The challenge of staying compliant with stringent US Government and Department of Defence (DoD) contracting requirements, namely the FAR and DFARS, is putting a lot of pressure on defence companies looking to deal with the biggest defence customer on the globe.
As the regulations have only taken on an extra-territorial effect in recent years, European companies both big and small, are playing catch-up in terms of understanding the both complex and confusing regulations that play a significant role in determining how to secure and maintain your DoD contracts and avoid termination. From the FAR and DFARS a whole plethora of difficulties have arisen: from legal and commercial issues such as protecting European IP rights to ensuring the appropriate flow-down of FAR and DFARS requirements throughout the supply chain; to financial and pricing issues such as cost allowability and how to appropriately price contracts. Time and money are at stake: it is imperative that your company overcomes these challenges and gets to grips with US contracting culture fast, to avoid a difficult bidding landscape.
In addition, with defence budgets in the US being tightened, the DCAA and DCMA are starting to turn their attention to European contracts to ensure that the DoD is only paying the best prices possible. With potential scrutiny resulting in debarment, withheld payments, fines and contract terminations, your company cannot afford to ignore FAR and DFARS requirements.
Don’t miss C5’s 3rd forum on US Defence Contracting and DFARS Compliance in Europe, on how to address the most contentious US defence contracting and FAR/DFARS issues. Benefit from unparalleled networking and benchmarking with leading industry professionals and government officials, who will share best practices on understanding and managing the FAR and DFARS requirements.
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