Description
Make sure you know if and when TINA applies to your procurement contracts and the risk imposed when TINA does apply.The Truth in Negotiations Act is a unique requirement in federal government contracting. Noncompliance with TINA can expose a contractor to significant civil, criminal, and administrative penalties. Many federal contractors do not know whether TINA applies to their procurements and, if so, what information is required or whether a possible exception to TINA applies to exempt the procurement from TINA’s requirements. Many contractors are confused by the commercial item exception and the exception to the exception for modifications to commercial items that may require submission of certified cost and pricing data, even for commercial item procurements, in certain situations. This topic helps contractors and government officials to understand whether a procurement is subject to TINA based on the dollar thresholds of the procurement then provides information on identifying whether your procurement may be subject to an exception to TINA’s requirements, with special focus on the exception for commercial items and then explains the exception to the exception for certain procurements involving modifications to a commercial item, which could mean that TINA’s requirement for certified cost and pricing data may apply. The material examines the government’s shifting attitudes toward commercial item procurements and discusses the current treatment of commercial item procurements. This information is critical for government contractors, program managers, procurement and contracting professionals, and the finance professionals supporting them so they can ensure they know when TINA applies and how to satisfy TINA’s requirements.
Date: 2020-05-21 Start Time: End Time:
Learning Objectives