PSC W055

Overview

The Product Service Code (PSC) framework standardizes how the U.S. federal government classifies procurements for goods and services, enabling consistent reporting and analysis across systems such as FPDS and SAM. The PSC Manual on Acquisition.gov is the authoritative registry and maintenance mechanism for PSC entries and guidance on code use and descriptions.¹

The PSC W055 is listed in the PSC Manual as "LEASE OR RENTAL OF EQUIPMENT- LUMBER, MILLWORK, PLYWOOD, AND VENEER" and is applied when the primary purpose of a contract action is leasing or renting equipment used in lumber, millwork, plywood, or veneer operations. The PSC Manual spreadsheet and catalogue are the official source for the code name and descriptor.¹

See also on G2X:

• https://app.g2xchange.com/psc/W055 (G2X — PSC W055 overview)
• https://app.g2xchange.com/psc/K055 (G2X — PSC K055, Modification of Equipment - Lumber, Millwork, Plywood, and Veneer)
• https://app.g2xchange.com/psc/L055 (G2X — PSC L055, Technical Representative - Lumber, Millwork, Plywood, and Veneer)

What this PSC covers

• Lease or rental of lumber-processing equipment
• Sawmill and planing machinery lease or rental
• Millwork production equipment rental
• Plywood-production line equipment leasing
• Veneer-handling equipment rental
• Temporary material-handling equipment for wood-product operations

Specific, item-level includes and excludes for this code are not published in the PSC Manual; item-level detail is not specified by official sources.¹

Related NAICS and PSC codes

Official PSC-to-NAICS crosswalks or mandatory related-code mappings for W055 are not published in the PSC Manual in a way that authoritatively assigns specific NAICS or multiple PSC complements; therefore a verified crosswalk table is omitted and such mapping is not specified by official sources.¹

Procurement notes

Leases or rentals reported under W055 may be subject to standard lease-purchase guidance. When a lease includes an evaluated or optional purchase, contracting officers must insert the Option to Purchase Equipment clause (FAR 52.207-5) and follow FAR Part 7 guidance on lease versus purchase analysis; follow the FAR clause and related guidance when an option-to-purchase is included.³

FPDS reporting requires a valid PSC drawn from the PSC Manual for award reporting; agencies must select an appropriate PSC value when reporting actions that lease or rent equipment.²

Frequently asked questions

• Q: When should W055 be used on an award?
  A: Use W055 when the principal purpose of the contract action is leasing or renting equipment whose descriptor falls under lumber, millwork, plywood, or veneer operations, per the PSC Manual listing.¹

• Q: Is there an FPDS requirement to select a PSC for leases?
  A: Yes. FPDS requires a valid Product or Service Code from the PSC Manual for award reporting; the PSC identifies the product or service procured and must be provided on reported actions.²

• Q: Do PSC definitions include exhaustive item-level lists of equipment covered?
  A: No. The PSC Manual provides standardized code names and descriptors but generally does not publish exhaustive item-level includes/excludes for every code; item specifics for W055 are not specified by the PSC Manual.¹

• Q: Are lease-to-purchase terms common for PSC lease categories?
  A: Lease agreements with an option to purchase are addressed by the FAR. When an option to purchase is included, contracting officers insert FAR 52.207-5 and follow the lease/purchase analysis guidance in FAR Part 7.³

Useful resources

• https://app.g2xchange.com/psc/W055 (G2X — PSC W055 overview)
• Product and Service Code Manual (Acquisition.gov): https://www.acquisition.gov/psc-manual
• FPDS — PSC (Product or Service Code) help and glossary: https://www.fpds.gov/help/PSC.htm
• FAR 52.207-5, Option to Purchase Equipment (Acquisition.gov): https://www.acquisition.gov/far/52.207-5

References

1. Acquisition.GOV — Product and Service Code Manual (PSC Manual). https://www.acquisition.gov/psc-manual
2. FPDS — PSC (Product or Service Code) help and glossary. https://www.fpds.gov/help/PSC.htm
3. FAR 52.207-5, Option to Purchase Equipment (Acquisition.gov). https://www.acquisition.gov/far/52.207-5