DOING BUSINESS WITH UNCLE SAM Part I
ASK THE EXPERT
Shavon J. Smith, Esq.
The Esquire’s Letter So, you have a useful good or important service that the government – local, state, or federal – is buying and you want the government as a customer. And why wouldn’t you, the federal government spends over $400 billion a year with federal contractors; states like Maryland spend nearly $8 billion a year with government contractors. But doing business with the government, though lucrative, is complicated. Government agencies are notoriously slow to pay, and the rules are oh so plentiful and complicated. Still interested? Here’s what should you know before you sign your first or your next government contract:
1. What Type Of Contract Do You Have The type of contract you have will determine the rules that apply and how you get paid. The goods or services offered, and the duration of the arrangement will often dictate the type of contract. The following list includes some of the most common contract vehicles: ·ASK THE EXPERT
N.A.I. MAGAZINE - PAGE 8
