Recent Amendments to the Buy American Act (BAA) Reinforce SinglePoint Subsidiary, BPA Solutions, Commitment to Offering Products Built and Manufactured in the United States
- Federal Acquisition Regulatory (FAR) Council's amendments to the Buy American Act went into effect on October 25th, 2022
- One amendment requires the domestic content threshold for products purchased through federal procurement to be at least 55-60%, with more increases to come
- BPA Solutions has positioned itself to respond favorably to the Buy American Act, as all its products are manufactured here in the U.S.
Charleston, SC, December 15th, 2022 – SinglePoint (OTCQB:SING) subsidiary sees upside in recently passed BAA. Recent amendments to the FAR Buy American Act requirements will further encourage federal procurement to purchase products made in the U.S. in the future. On October 25th, 2022, three fundamental changes went into effect, one of which raised the minimum domestic content threshold to 55-60%.
The BAA and its increasing domestic content thresholds mean that the government and other non-private entities must buy from companies whose products are produced in the U.S. to comply with present and future procurement regulations and laws. The threshold will be raised to 65% in 2024 and to 75% in 2029.
BPA Solutions has applied to become an approved vendor listed on the U.S. General Services Administration Schedule (GSA Schedule). Vendors awarded contracts for their product and service listings on the GSA Schedule benefit from prospective purchasers knowing the vendor met the strict standards set by the GSA. Once approved, BPA Solutions can offer products to federal agencies as well as state and local governments through the Cooperative Purchasing Program. This means more financial opportunities for BPA Solutions, as the Company will now be able to offer its top-of-the-line products for placement or installation in Federal and state government buildings throughout the U.S.
This development is bolstered by the GSA operating under Executive Order 14005, an initiative by President Biden to boost and procure products made in America by Americans. Due to this, as well as "buy American" priorities entrenched by the Trump Administration, the GSA is actively looking to remove products not made in the USA and promote domestic content. All BPA Solutions' products are made in the U.S., meaning the Company has already achieved the minimum domestic content threshold required now and as currently revised by the federal government. As a likely GSA vendor, BPA Solutions can access a simplified and modernized contracting process to promote their products and offer them to national and state buyers as part of the federal supply.
In addition to helping clients comply with the BAA, BPA Solutions is excited about the competitive advantage, exclusive listings, faster procurements, and the ability to scale its business upon its listing on the GSA Schedule. Our BOX Pure Air line of certified HEPA portable air filtration is built and manufactured in Statesville, NC. Our LifeShield+ bullet-resistant door shields and window coverings are manufactured in Johnson City, TN.
About SinglePoint Inc. (OTCQB:SING)
SinglePoint is a sustainable lifestyle Company in the solar energy and air purification markets. The Company plans to build the largest renewable energy solutions network and modernize the traditional solar energy and energy storage business model. SinglePoint continues to execute its acquisition strategy by exploring future growth opportunities in air purification, electric vehicle charging, solar as a subscription service, and additional energy efficiencies and appliances that enhance sustainability and healthier life. For more information, visit the Company's websites: www.singlepoint.com, www.bostonsolar.us, and www.boxpureair.com.
About BPA Solutions
At BPA Solutions, we believe in providing schools with products and services designed to create a healthier, safer school environment. Our flagship entity, BOX Pure Air, introduced us to the school industry and the daily problems schools face. As we continue to expand, we are constantly looking for ways to provide quality resources at a reasonable cost to schools. We currently offer BOX Pure Air – Air Purification and indoor air quality solutions, LifeShield+ Bullet-resistant window shades & door shields, and BPA Consulting – guidance for schools on receiving and spending federal grant money.
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