A Whitepaper from Redstone Government Consulting

When the opportunity arises for you to sell your contracting business or transfer your contracts to another contractor, a novation agreement helps to ensure both parties understand the requirements involved in transferring government contracts. An administrative contracting officer (ACO) is assigned by the FAR regulations to execute change in ownership agreements, assigned either by DCMA or by the contract with the largest funding amount. There are risks and other concerns involved in these transfers, including potential foreign-controlled companies, organization conflicts of interest, and even the chance that one of the parties is a small business. FAR requirements spell out a list of required documentations as well. There are additional concerns when you are dealing with a subcontract, and the government’s approval may come with additional terms and conditions. It’s crucial to avoid potential disaster with complete preparation and understanding of FAR regulations specific to novation agreements.

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