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GSA Seeks Comments on Proposed Class Deviation to Address Open "Recurrent Points of Inconsistency" in Commercial Supplier Agreements

Client Alert | 1 min read | 03.20.15

On March 20, 2015, the General Services Administration published a notice seeking comments on a proposed class deviation to the Federal Acquisition Regulation and General Services Acquisition Regulation intended to address "recurrent points of inconsistency" between Federal law and commercial supplier agreements, to establish that the FAR's commercial item terms take precedence over commercial supplier agreements, and to implement standard terms and conditions in order to minimize the need to individually negotiate agreements. GSA has provided a roadmap to all the terms and conditions customarily used by contractors in commercial supplier agreements (15 in total) that it believes conflict with Federal law; contractors have an opportunity to submit comments on this proposed class deviation on or before April 20, 2015.

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Client Alert | 1 min read | 07.08.26

CAS Board Publishes Final Rule Rescinding CAS 404, 408, 409, and 4117

As part of its ongoing effort to conform the Cost Accounting Standards (“CAS”) to generally accepted accounting principles (“GAAP”), the CAS Board published a final rule rescinding CAS 408 (Accounting for costs of compensated personal absence) and CAS 411 (Accounting for acquisition costs of material).  The CAS Board also rescinded CAS 404 (Capitalization of tangible assets) and CAS 409 (Depreciation of tangible capital assets) but retained certain requirements of CAS 404 and 409, which will be located in new paragraphs of CAS 405 (Accounting for unallowable costs).  Specifically, the CAS Board retained the requirements currently located at CAS 404-50(d)(1), CAS 409-50(e)(5), CAS 409-50(j)(1), and CAS 409-50(j)(4), which the CAS Board explained are necessary to protect the Government’s interests.  Otherwise, the CAS Board determined that the requirements of CAS 404, 408, 409, and 411 overlapped with GAAP such that GAAP “may be applied reasonably as a substitute for CAS to support contract cost and pricing.”...

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