Government contracts can be very lucrative business agreements for a private company in Louisiana and across the United States. Many companies vie to get awarded a federal contract. Because of the nature of a federal contract, there is a lot competition and the process is sometimes difficult. When there is a dispute in the process things can become even more complex.
Due to some type of contract dispute a Federal contract had been awarded improperly. Apparently the government accountability office or GAO did not evaluate the initial bids on the contract properly. Initially the cost savings with the bids was not properly calculated. Because of this, a billion dollar government nuclear contract recently became available again and Babcock & Wilcox Co Industries has taken note. Babcock has already been completing some of the work and hopes to be picked to complete the project in its entirety.
Contracts are crucial to the running of any business. Almost every department of a company, large or small, deals with contracts. Contracts are usually in written form but can sometimes be oral in nature. A contract consists of an offer, acceptance and consideration. The people involved, sometimes companies or corporations, must agree to the terms and must also be considered in the right mind to agree to the terms. Things quickly get more complex when it comes to business contracts and bidding procedures. For companies doing business in Louisiana, these contracts tend to be overseen by the laws and courts of Louisiana.
Corporate contracts and especially government contracts may be highly-complex. The amount of money and resources involved can be daunting. When bidding for a large or important contract in Louisiana it can be helpful to have professional consultation to assist in the oversight or management of the process.
Source: Richmond Times-Dispatch, “Babcock gets another shot at $22.8 billion U.S. nuclear contract,” April 30, 2013