Government Contractor's/Subcontractor's Information and Compensation Go On Internet In Transparency Rule

As of July 9, 2010, as part of a transparency move, the total compensation of person in charge of small, privately held commercial item companies that receive government contracts, as well as the other top five company executives, will be posted on the Internet, with few exceptions. The public will also be able to see the first-tier subcontracts your company has been awarded and their value.

The only exceptions to reporting:

• classified contracts

• subcontracts to individuals

• subcontractors in previous tax year having gross income from all sources under $300,000

• There is no exception for small businesses or privately-held companies or commercial item or commercial-off-the-shelf contracts.

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Published In: Construction Updates, Government Contracting Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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