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Speaker: John Edward Murphy, Author of "Guide to Contract Pricing: Cost and Price Analysis for Contractors, Subcontractors, and Government Agencies."
Date: Friday, August 24, 2007
Time: 1:00 pm to 4:00 pm
Location: The Federal Sales Academy, Bethesda, Maryland
Federal agencies are not blameless. However, before we become overly critical of the government and its bureaucrats, let's make some things clear.
First, Uncle Sam wants and needs you as a supplier. Realizing this, he wants you to consider him a favorite customer, rather than a troublesome customer that fail to pay on time.
Second, the government has a long standing policy to pay its bills on time. Late payments happen. But they can be traced to misunderstanding, mistake, or negligence (maybe yours or maybe the government's). But not to a deliberate act by a Federal agency to alleviate its cash flow problem. Some private sector firms (perhaps some of your customers?) deliberately pay their bills late to lessen a cash flow problem, but no such ulterior motive exists within the Federal establishment.
Third, the Federal Acquisition Regulations (FAR) stress the need for timely payment, and provide for interest penalties and unfavorable reports to Congress and the Office of Management and Budget (OMB) for non-compliance. Even if the agencies can afford the interest cost, the adverse reports do not reflect well on them.
In short, Uncle Sam wants you --- as a supplier, to be paid, and to be paid on time. If you are not being paid on time, you need to unemotionally trouble shoot the problem, and effectively implement a lasting (rather than temporary) solution.
This seminar will facilitate your ability to:
- Use the Prompt Payment Act and the Federal Acquisition Regulations (FAR) to get paid on time.
- Identify indicators of billing and collection problems, and take timely corrective action.
- Improve your firm’s cash flow.
- Negotiate payment terms and conditions to improve timely collection.
- Prepare timely billing documents that meet the FAR standards for timely collection.
- Communicate with all players (both in your firm and in the Federal agencies) in the billing and collection process.
- Write credit, billing and collection policy directives for your firm.
AGENDA
The course will cover the standards that assure timely payment — standards for the contract, receiving report, and invoice or billing documents. We will also demonstrate how the Prompt Payment Act and the FAR work to the benefit of the contractor to effect timely contract payment. We will also use case illustrations that show the application of sound pragmatic collection practices.
Government contractors who want to learn negotiate payment terms and conditions to improve timely collections.
The course will begin at 1:00 pm and conclued at 4:00 pm.
Refreshments will be served
Cancellations
Cancellation notification must be received one week prior to the seminar date. Upon notification, your registration fee will be refunded less a $100 non-refundable processing fee. Any cancellations beyond the one week period are non-refundable. You may reschedule at anytime; if you reschedule to attend another seminar, we will apply your payment toward your new registration fee. Personnel substitutions may be made at any time. Payment must be received prior to the seminar date. No-shows are liable for the full seminar fee.
