May 17, 2012
Failure to maintain a purchasing system that meets or exceeds the federal government’s standards could spell trouble for government contractors, especially if you contract with DoD. The new Business Systems Rule, finalized in February 2012, authorizes the Contracting Officer to withhold up to 5% of the contractor’s payments in the event a required business system is deemed to be unacceptable. Approved purchasing systems also avoid the time and resources devoted to providing advance notification and obtaining consent, reduce contractor risk, increase contractor competitiveness and in some cases, are a prerequisite for bidding on contracts.
This webinar, presented by our contracting compliance experts, will give you valuable insight into what constitutes an “acceptable purchasing system” in the eyes of the government. The DFARS Purchasing System Clause lists 24 separate requirements that a purchasing system must meet to be considered acceptable, so compliance may be a challenge for even for the most prepared contractors. Tom Marcinko, a Principal Consultant in Aronson’s Government Contract Services Group, will discuss these requirements and provide practical tips for:
• Definition of a Purchasing System
• When are Purchasing Systems Required
• Purchasing Policies and Procedures
• Preparing and maintaining purchasing files
• Preparing for a Contractor Purchasing System Review (CPSR)
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