The kind of contract is important, as well; there are Firm-Fixed Price (FFP) contracts and Time and Materials (T&M) contracts. FFP is just what it sounds like. During contract negotiation, a price is agreed upon by both sides and fixed into the contract. This can be a problem if the ...
The US government does not necessarily intend for its government procurement contracts to fail, but when they are awarded on a fixed firm price basis, the entire project management is transferred to civilian contractors for a specific cost. When something goes wrong, contractors are forced to ...
A contractor entered into a fixed-price contract with the Center for Disease Control and Prevention (CDC) to conduct on site monitoring of clinical research sites. After a year of performance, the CDC informed the contractor that it has “postponed” contractor site visits due to COVID-19. Th...
For more than 20 years, Aprio’s dedicated outsourced accounting practice professionals have helped government contractors with accounting services for fixed price, time and materials, and cost reimbursable contracts. Our deep understanding of the federal contracting industry and its challenges enables us ...
While there are a variety of contract types, government contracts generally fall into two categories: Fixed (e.g. Firm Fixed Price) and Variable (e.g. T&M, CP, etc.). Variable contracts can be difficult to satisfy the financial risk requirement for the R&D credit due to the contract struc...
a contractor has economic risk when payment is contingent on the success of its R&D work. Courts generally have interpreted the rule to mean that work performed under firm, fixed-price contracts can qualify. The logic is that fixed-price contracts are inherently risky for contractors, thus giving...
Government Contract Management WrkPlan manages both commercial and government contracts, including various forms of Cost Plus (CPFF), Time & Material (T&M), and Fixed Price (FP) contracts. Project Billing and Accounting A/R, A/P, General Ledger and Cost Ledger to segregate costs by contract, ...
of the Government’s cost claims following an audit, and the Civilian Board of Contract Appeals clarified that certain clauses can give the Government audit rights to fixed-price portions of a Government contract, even when the contractor was not obligated to submit certified cost or ...
Government Contract Management WrkPlan manages both commercial and government contracts, including various forms of Cost Plus (CPFF), Time & Material (T&M), and Fixed Price (FP) contracts. Project Billing and Accounting A/R, A/P, General Ledger and Cost Ledger to segregate costs by contract, ...
Creating a joint venture is another avenue that contractors have found success with. You may choose to partner with a firm that has completed the type of government contract you are interested in, and prepare a bid together. Firms that lack the experience needed for a particular type of projec...