When Change Happens: Navigating Through Contract Terminations Training Webinar

Shifts in federal government policies, programs, and priorities can lead to changes in contractual requirements, modifications, and, in some cases, contract terminations. For government contractors, understanding the government’s right to terminate and the potential impact on ongoing contracts is critical to minimizing risk and protecting profitability.

This webinar will provide government contractors with a practical understanding of the termination process. Participants will gain insight into cost recovery strategies, subcontractor settlements, and the audit implications that arise when contracts are stopped short of completion. With proper preparation, contractors can mitigate financial exposure and ensure compliance when facing what may seem like the daunting requirements of contract terminations.

Learning Objectives

At the completion of this one-hour webinar, participants will be able to:

• Understand the contract termination process
• Identify the FAR provisions applicable to terminations including terminations of contracts awarded as commercial items
• Distinguish between entitlement and quantum
• Identify common pitfalls in contract terminations
• Identify sources for assisting with the termination settlement proposal through audit support

Program Content

During the webinar, we will discuss:

• FAR Part 49 Termination of Contracts
• FAR Part 31.205-42 Termination Costs (including common items, costs after the termination date, recouping initial and non-recurring costs and the termination settlement proposal forms)
• FAR Part 212-1(l) & (m) Commercial Products and Commercial Services (terminations, adjustment proposals and approaches)
• Audit programs and the typical termination audit process

About Redstone GCI

RGCI enables contractors doing business with the U.S. government to comply with the complex and challenging procurement regulatory provisions and contract requirements by providing superior cost, pricing, accounting, and contracts administration consulting expertise to clients expeditiously, efficiently, and within customer expectations. Our consulting expertise and experience is unparalleled in understanding unique challenges of government contractors, our operating procedures are crafted and monitored to ensure rock-solid compliance, and our company’s charter and implementing policies are designed to continuously meet needs of clients while fostering a long-term partnership with each client through pro-active communication with our clients.