This is session 2 of 2 in the Termination Settlement Proposals Workshop - The What, When and How to Respond to T4Cs.

The potential for losing a contract is something any contractor dreads, and while neither the contractor nor the Government enter into a contract expecting it to be terminated, the possibility does exist. The Government maintains the unilateral right to partially or completely terminate a contract for convenience when it is in the best interest of the Government. While a termination for convenience is anything but convenient, it is survivable, and with the right approach and support it is navigable and can reset a contractor back to the position it was had the contract not been terminated through a well thought out Termination Settlement Proposal (TSP).

Upon the notice of termination from the Contracting Officer, contractors have a year in which to prepare their TSP.  Depending on the contract’s unique circumstances, such as the point within the period of performance the termination occurs, whether the termination is partial or whole, the contract type, the scope of work and the impact of subcontracts, developing the TSP can be challenging.  

This two-day workshop focuses on the actions contractors need to implement and consider in preparing and supporting a TSP to obtain fair compensation. The workshop will discuss concepts addressed in FAR Part 49, define best practices, address recoverable costs, discuss the structure of the TSP and incorporate numerous exercises to address these concepts in order to meet the Terminating Contracting Officers expectations and identify the documentation to support subsequent audit.

Over the two days, the agenda will cover:

• Termination Background 
• Terminations for Default vs Terminations for Convenience 
• Termination for Convenience Fundamentals 
• Settlement Methods 
• Key Termination Cost Considerations 
• Termination for Convenience Proposals 
• Best Practices for Proposal Packages 
• Post Submission Process 
• Audits 
• Negotiations 
• Application of Topical Exercises and a Case Study 

This live virtual course is eligible for both CLE and CPE credit.
NOTE: CPE/CLE credit for attendees are subject to participation and approval by the governing boards. NASBA CPE ACCREDITATION INFORMATION
Learning Level: Beginner
Prerequisites: None
Field of Study: Specialized Knowledge
Delivery Method: Group Internet Based

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West Professional Development is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.