WHAT YOU DON’T KNOW CAN HURT YOU

Companies are in business to do business and make money.  That’s great, but if you don’t know that the rules governing your business have changed, you may not end up keeping all of the money you’ve made.  Quiz time:  How many new rules has the current administration imposed on contractors?  8? 12?  How about 16, at least.  Now, can you name one?  No one likes to think about rules and hurdles to doing business, but if you don’t keep up with those that impact your contracts, whether prime or sub, you could have to pay Uncle Sam back some of the money you earned.  Secure supply chain, fair pay, and cyber incident reporting are just three examples of newer rules you may need to know about.  Here’s the kicker:  Even if a rule that should be in your contract was not put in by the CO, you still must abide by it per the “Christian Doctrine”.  As such, contractors must be proactive in learning what governs their contracts.  The linked-to article discusses some of this and promotes an NCMA event.  Whether or not you want to attend the NCMA event is up to you, we are neither endorsing, nor not endorsing, it.  The basic premise of understanding new rules remains unchanged.