Definition: GBC stands for "Government by Contract". This term refers to a government contract in which a public entity, such as the federal government or state governments, is responsible for providing goods, services, or other forms of assistance that are not provided through private industry. The main purpose of a GBC is to reduce costs and improve efficiency by providing public sector agencies with contracts from which they can take advantage of competitive bidding processes. This helps to increase transparency, accountability, and economic fairness in the procurement process, as well as ensuring that government purchases are made according to the needs and priorities of the communities served.
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