One of the most thrilling parts of being a small business government contractor, is being awarded a contract. You’ve poured your time, money, and possibly even a large portion of your professional life to get to this point, so what is the most natural reaction of a contractor or grantee when they receive an award/contract?
Well really, most companies are so thrilled that many will simply want to sign it and get the ball rolling. The main goal is to start work and eventually start receiving money for the work performed. After all, that is the whole reason that you wrote the proposal in the first place!
But what happens when the average small business is handed a contract with dozens to hundreds of pages? Just like your standard Apple iTunes agreement, or the typical mortgage loan package, how many people actually read every page and all the fine print, understand every condition, and are fully aware of exactly what they are signing up for?
Not many…and when your business is accepting a contract from the Federal Government, not knowing the critical details and processes of each element of the contract can spell disaster for any contractor.
This is why it is critical that small businesses perform a thorough government contract review of each and every award. Whether you are comfortable enough to perform this task in-house, or you contract this out to a government contract management and DCMA/DCAA expert like ReliAscent, is up to you. Our experts have over 150 years of contract review experience, and ReliAscent just released our latest white paper: “Government Contract Reviews – Protecting Your Company from Potential Disaster.”
No matter which option you choose, a proper, thorough contract review can mean the difference in staying profitable or losing money on a contract, and even the very future success of your company.
To learn more about ReliAscent’s Government Contract Review services (or any of our contract management or accounting services), please contact us at any time.