“Hope for the best, prepare for the worst” is an adage that many of us repeat in our conversations, but we never expect the worst to actually happen. For federal contractors, one of the worst things that could happen is having a contract terminated–even if the termination is for convenience. Even if you prepare for the worst, the question inevitably becomes, what do I do now? In this GovCon FAQ, we will discuss terminations for convenience and what steps to take after receiving the dreaded termination notice.
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Back to Basics: Terminations
The word “termination” in nearly every context elicits concern. And in federal contracting, such concern may often be warranted. Some terminations are no big deal, resulting in a federal contract–or even just part of one–being ended a bit early for convenience of the government. But other terminations, based on alleged default or deemed “for cause,” can have significant negative impacts (especially on small and disadvantaged businesses). So, one thing remains consistent across the board for federal contract terminations: it is crucial to understand the type of termination you are issued, its legal implications, and your rights and options for resolution. This article provides a general overview of terminations. Future posts will dive in deeper to contractor termination rights and options and settlement proposals.
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