The Trade Agreements Act: An Unknown Compliance Issue for Small Businesses
Small businesses often enter into government contracts unaware of all the laws and regulations that may apply when selling to the government. One of the laws that is often overlooked is the Trade Agreement Act (TAA). Under the TAA, certain products that are sold to the U.S. Government must originate either in the United States or in one of the countries with which the United States has a special trade agreement.
Because of the TAA, small businesses selling goods to the government must determine the country of origin of their product and certify that they are delivering TAA-compliant products. If the contractor delivers non-compliant goods, it will not only breach its contract with the government, but also be exposed to civil and criminal penalties under the False Claims Act. In addition, contractors may be suspended and debarred for violations of the law.
Read the complete stry at http://www.jdsupra.com/legalnews/the-trade-agreements-act-an-unknown-59657/
Source: JD Supra, Article written by Tony Franco, Published May 18, 2015
For help with Government Contracting: contact your nearest Procurement Technical Assistance Center (PTAC). Funded through Cooperative Agreements between the U.S. Department of Defense and state and local governments/institutions, PTACs provide free and low-cost assistance in virtually all areas of government contracting.