Principal

“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).

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.

Related Pages

Mandatory Disclosure Rules