Exam 1 - Contracts and Bankruptcy Flashcards
This act fights misrepresentation within a contract.
False Claims Act
When contracting with the government, the government is considered an “individual” and not a ruling body.
True or False
True.
The largest consumer of goods and services
The U.S. Government
These clauses are often incorporated by reference rather than written out in a contract
Standard Form Clauses
There is no such thing as “apparent authority” in government contracting.
True or false
True
The situation in which a reasonable third party recognizes that an agent has an authority to act. Meaning, the principal (owner) is bound to the decisions and actions of the agent.
Apparent Authority
The means by which contracts are awarded by the Federal Government.
“Best Value”
- Performance
- Management
- Experience
- Personnel
What are the five social and economic policies enacted within construction?
- Historically Underutilized Businesses (HUB)
- Veteran owned businesses
- Women-owned businesses
- Small businesses
- Disabled owned businesses
This act regulated minimum wage for workers within Federal Contracts. Based on the local prevailing wage.
Davis Bacon Act
This act allowed both the contractor and the Federal Government to make post-award monetary claims and non-monetary claims. All claims must be submitted to the Federal Government.
Contract Disputes Act of 1978
P.S.
This is kind of bullshit, since you’re making a claim against the people who are going to either approve or deny that claim.
This statute sets a time frame in which you are allowed to make a claim. After this time frame has passed, you are no longer able to make a claim.
Statute of limitations
This statute varies from state to state. In Texas, however, this statute provides that after 10 years following a dispute, a claim cannot be made against the contractor.
Statute of Repose
CDA
Contract Disputes Act
Written claims under the CDA must follow these parameters.
- Must be within 6 years (SOL - Statute of Limitations)
- Must be submitted to Contracting Officer
- Must include a specific request for a final decision
- Has to be written
The government may NOT cancel a project on a whim for no reason whatsoever, as to protect the civilian contractor.
True or False
False.
The government is allowed to “terminate for convenience”. Meaning, they can cancel a project for no reason with no prior warning.
Kickback Act
There are no “kickbacks” allowed within a Federal construction project.
Two known environmental policies within the construction industry
- Environmental Efficiency and Sustainable Design
2. LEEDS (Internationally Designed)
FAR
Federal Acquisition Regulation
List the FAR Expectations on Ethics
THE CONTRACTING COMPANY SHOULD:
- Conduct self with the highest degree of integrity
- Have an internal, written code of business ethics and conduct
- Have a consistent ethics training
- Repay to the government if the contracting company is overpaid by the government.
Contractors entering into a Federal contract MUST provide the following certification
- Initial solicitation
- Monthly progress payment applications
- Davis Bacon payroll data
- Resolution of claims
NOTE: This is not just another form to sign.
“Qui Tam” Actions
These are incentives for whistleblowers to come forward. These must be provided by the contractor.
Where could one find the Contractor’s Code of Ethics (Federal Gov. Contracts)
FAR subpart 3.10
Article 2 of the U.C.C. covers ________.
The sale of goods.
“Goods” - Moveable items for sale
How did Texas react to the U.C.C.
Texas was slow to accept the U.C.C.
