While the government is purchasing billions of dollars of supplies and services annually from Federal Supply Schedule ("FSS") contracts, manufacturers and suppliers are paying millions of dollars back to the government in fines and penalties for failing to comply with the contracts’ onerous requirements. With comprehensive compliance processes, contractors can better ensure profitable performance under FSS contracts.
Reed Smith’s Government Contracts Practice Group is offering a "Check-Up" program to FSS contract holders for a set fee. Under the "Check-Up" program, a team of Reed Smith attorneys will review a sampling of principal FSS documents, interview key FSS compliance personnel, conduct a 2-hour training session, and provide a written assessment of the company’s FSS compliance strengths and weaknesses. The FSS Check-Up is designed to take place at the company’s facility over the course of a day, with written feedback provided within a week.
Key areas to be reviewed include:
- How was pricing determined for the FSS contract?
- Was the initial pricing disclosure current, accurate and complete?
- How does the company ensure compliance with the Price Reductions clause?
- Is the company paying too much in quarterly Industrial Funding Fees?
- How are products or services added and deleted from the FSS contract?
- Are subcontracting goals tracked and met?
- How does the company ensure compliance under the Buy American or Trade Agreements Act clauses?
- Is the company’s recordkeeping adequate?
- Does the company’s compliance plan conform to industry best practices?
Under the FSS Check-Up program, Reed Smith Government Contracts attorneys can provide a quick overview, under the attorney-client privilege, of the company’s current compliance status with its FSS contracts, with suggestions of areas to improve.
This article is presented for informational purposes only and is not intended to constitute legal advice.
