Contract management

National Contract Management Code of Ethics Section One: Preamble The Code of Ethics of the National Contract Management Association (NCMA) establishes principles for members of the contract management profession. This code is intended to create public trust and confidence in the integrity of the contract management process. The code requires members of the contract management profession to conduct themselves in such a manner as to bring credit upon the profession. All members of NCMA shall abide by the letter and spirit of this code. Section Two: General Obligations Integrity: Members fulfill their duties without deception or misleading practices. Members actively support and encourage others in adhering to this code. Accountability: Members…

The primary role of the Defense Contract Management Agency (DCMA) is to oversee the administration of defense contracts, dispatch quality assurance reports and audit/monitor subcontracting plans. DCMA consistently plays program supportability roles throughout different DOD acquisition programs. Although, in the DOD medical acquisition community use USAMRAA (US Army Medical Research Acquisition Activity) for contracting support, we can use the DCMA capability to integrate information from…

Now, let’s us take a look at how the updated revenue recognition standard will impact the real estate industry. In the real estate sector, contracts with customers entails various services. Under the new standard, entities in this sector will need to determine whether these services should be treated as a separate contract. The identification of performance obligations can be complex as well for the real estate sector. Below is an example about the identification of performance obligations (EY,…

The main legal issue in this scenario is whether Elena can sue The Success Hotel for the loss of her property valuables on the very last day of her stay in the hotel. The general principle of law relating to this issue is the exemption clauses being put up by the management of this hotel. This hotel has many signs that tells the management will not be responsible for the valuables lost if these items are not given to the front desk for safe-keeping, these are the exemption clauses made by the…

Ethical decision making is a part of life and provides a glance of an individual’s character. This document centers on the decision that Lauren was required to reach regarding a quality management issue that arisen during testing of a client’s product. It provides a brief account of the problem and the systematic phases that were in use to derive a decision of what course to follow. To formulate this decision a framework was utilized that outlined what questions needed to be answered. These…

Lucy v. Zehmer: The court focused on the contract being written in Zhemer’s handwriting and the both of them signed it. Even though Zehmer told Lucy the next day that it was the liquor talking and that he didn’t want to sell the farm, the court believed that Lucy was serious about purchasing the farm because he believed the contract was legit. By believing in the contract, the next day he focused on getting the money. The night they met at the restaurant, Zehmer had told Lucy that he…

have already examined the effects that positional bargaining has labor-management relations and producing innovative agreements. Later, I will also examine positional bargaining and interest-based bargaining’s effect on intra-party relations. The model used to examine these relations also takes into account the trust between each party and their use of power, as these variables have effects on labor-management relations, innovative contracts, and…

According to Mathis and Jimerson, “It also purportedly frees school leaders from non-instructional responsibilities so that they can concentrate on their primary mission of ensuring that children are learning” (p. 5). Privatizing can save money and truly provide the services that are agreed upon in the contract. “The school board and administrators must be extremely careful as they consider contracting out” (Mathis and Jimerson, 2008). The school is a large provider of employees for a…

⦁ Contracts may require a performance bond. ⦁ All contractual agreements or arrangements requiring state and/or federal funds shall be signed by the authorized individual. ⦁ A payment schedule requirement must be specific in the written agreement. True performance-based contracts will exclude reimbursement requirements. ⦁ All contractual agreements are governed by state and federal laws. ⦁ Contracts shall never extent past (5) years total. All written agreement must have beginning and…

1. The legal rules and the SEC self-regulatory oversight philosophy, and neither provide enough protection to stakeholders to prevent corporate misconduct. The fiduciary duty of loyalty means that directors and officers of a corporation must act without personal economic conflict when making decisions on behave of the corporation. Therefore, it is generally acceptable if a director makes a decision for the corporation that profits them both, but not the officer more than the well being of the…