SBA Floats Rule To Crack Down On Contractors' Lies

Law360, New York (October 7, 2011, 4:05 PM EDT) -- The U.S. Small Business Administration proposed a rule Friday that would allow the government to recoup money it spends on projects if contractors lie about their companies, implementing a 2010 law aimed at helping small businesses create jobs.

Contractors that intentionally seek and win contracts through misrepresentation under the new rule would create a so-called presumption of loss equal to the value of the contract — allowing the government to go after that money.

At a conference in November of the Association of Procurement Technical Assistance...
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