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Contract and Subcontract Closeout
June 26 @ 1:00 pm - 3:00 pm
An event every 2 weeks that begins at 1:00pm on Tuesday, repeating until June 27, 2018
June 12th and June 26th, 1:00 – 3:00 p.m. (EDT)
The Contract and Subcontract Closeout training will now be available virtually with live instruction in two 2-hour session
The closeout process is a critical, but often forgotten, piece of the contracting process. This virtual class will focus on what contractors need to move the close out process for both prime contracts and subcontracts through to completion, efficiently and effectively. Achieving closeout will ensure final payments are made, audit issues are concluded, past performance evaluations are submitted and any open issues are resolved. Timely close out efforts result in reduced administration and ensure a greater likelihood that contractors still have not only the institutional memory but all the documentation necessary to achieve a favorable contract or subcontract close out.
- Analyze the basic steps needed to close out a contract, task/delivery order or subcontract and tips about how to accomplish them to the mutual benefit of the contractor, the subcontractor and the agency alike;
- Identify the differences in the close out process depending upon the type of contract or subcontract awarded;
- Explain when a close out can be completed without an audit and when an audit is needed;
- Explain the importance of new FAR compliance requirements;
- Describe ways to organize the information/materials needed for close out during contract or subcontract performance to avoid unnecessary delays.
- Discuss a real life closeout scenario for a prime contract and for a subcontract situation to familiarize attendees with the process and the competing considerations.
The Public Contracting Institute is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.