Difference between revisions of "Principal"
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(Created page with ""Principal" is defined to include an "officer, director, owner, partner, or a person having primary management or supervisory responsibilities within a business entity." This...") |
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| − | + | “Principal” means an officer, director, owner, partner, or a person having primary management or supervisory responsibilities within a business entity (e.g., general manager; plant manager; head of a division or business segment; and similar positions).<ref>FAR 2.101</ref> | |
This term is very important, especially in regard to mandatory disclosure rules. A violation of a law or regulation by a principal, or the knowing failure of a principal to timely disclose can be cause for a company to be suspended or debarred from participating in future US Governemnt contracts. | This term is very important, especially in regard to mandatory disclosure rules. A violation of a law or regulation by a principal, or the knowing failure of a principal to timely disclose can be cause for a company to be suspended or debarred from participating in future US Governemnt contracts. | ||
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| + | ==References== | ||
| + | <References/> | ||
[[Category: Definitions]] | [[Category: Definitions]] | ||
| + | [[Category:FAR 2]] | ||
Revision as of 06:09, 13 September 2013
“Principal” means an officer, director, owner, partner, or a person having primary management or supervisory responsibilities within a business entity (e.g., general manager; plant manager; head of a division or business segment; and similar positions).[1]
This term is very important, especially in regard to mandatory disclosure rules. A violation of a law or regulation by a principal, or the knowing failure of a principal to timely disclose can be cause for a company to be suspended or debarred from participating in future US Governemnt contracts.
References
- ↑ FAR 2.101
