Heads Up Contractors and Subcontractors – Doing Business with the Federal Government

New federal acquisition regulation changes have been made which require all contractors to adopt “codes of business ethics and conduct” which impose substantially new duties on contractors aimed at preventing and revealing fraudulent criminal activities. Contractors (other than small businesses) will also have to implement specific training programs and internal controls designed to prevent and/or detect fraud. These new regulations apply to companies receiving a non-commercial prime contract valued at over $5 Million that is scheduled to be performed for at least 120 days on or after December 24, 2007. These regulations will also apply to subcontractors on such federal projects. The regulations are designed to avoid conflicts of interest or even the appearance of conflicts of interest in government-contractor relationships. http://acquisition.gov/far/current/html/Subpart%203_10.html

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