Difference between revisions of "Principal"
From Knowledge base
| Line 1: | Line 1: | ||
| − | “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> | + | '''“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. | ||
| + | |||
==Related Pages== | ==Related Pages== | ||
[[Mandatory Disclosure Rules]] | [[Mandatory Disclosure Rules]] | ||
| + | |||
==References== | ==References== | ||
| Line 10: | Line 13: | ||
[[Category: Definitions]] | [[Category: Definitions]] | ||
| − | |||
Latest revision as of 12:56, 31 March 2015
“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.
Related Pages
References
- ↑ FAR 2.101
