Good morning FUN with the FAR Friends!
Thank you for joining us for another great episode of FUN with the FAR!
As a follow-up to Wednesday’s session, here are a few facts to ponder as we prepare for our next session of Fun with the FAR:
DID YOU KNOW?
Generally, only a contracting officer can sign a contract on behalf of the Government. FAR 4.101. The scope of a contracting officer’s authority is based on the dollar value of their warrant authority, which is granted based on their education and experience.
DID YOU KNOW?
Contractors should make sure that invoices and bills are accurate, including the correct tax ID number and contractor ID number. FAR 4.203.
DID YOU KNOW?
FAR Part4.7 only applies to contracts which contain an Audits and Records clauses. FAR 4.702. The rules set forth at FAR 4.7 do not apply commercial item contracts. Note, however, that commercial contractors should be aware of the record retention obligations set forth in 52.212-5(d) (a.k.a., the “Comptroller General Examination of Records clause) which is required to be included in ALL FAR Part 12 and 8 commercial contracts.
DID YOU KNOW? The Government must retain its contract records for 6 years after final payment. FAR 4.805 (Table 4- 1).
DID YOU KNOW?
All contracts issued by the Federal Government for the performance of services that require the design, development or operation of a searchable system of recordson individuals must include the privacy safeguards set forth in FAR 52.224-1.
DID YOU KNOW?
Contractor proposals that do not result in the award of a contract or order are not subject to disclosure under the Freedom of Information Act. FAR 24.202(a).