§ 90.1021 - Definitions concerning competitive bidding process.

§ 90.1021 Definitions concerning competitive bidding process.

(a) Scope. The definitions in this section apply to §§ 90.1001 through 90.1025, unless otherwise specified in those sections.

(b) Small and very small business.

(1) A small business is an entity that, together with its affiliates and controlling interests, has average gross revenues that are not more than $15 million for the preceding three years.

(2) A very small business is an entity that, together with its affiliates and controlling interests, has average gross revenues that are not more than $3 million for the preceding three years.

[62 FR 15999, Apr. 3, 1997, as amended at 67 FR 46376, July 9, 2002; 68 FR 43001, July 21, 2003]