What are some common mistakes to avoid when dealing with government contracts?

When dealing with government contracts in New York, it is important to be aware of common mistakes to avoid. The first mistake is not taking the time to research and understand the relevant rules and regulations. To ensure compliance, it is essential to investigate the regulations regarding the bid/award process, the contract language, any applicable statutory and constitutional requirements, and any court decisions that could impact the agreement. The second mistake is not properly managing risks associated with contractual obligations. Parties need to weigh the costs and benefits of the contract and consider potential sources of future liability. Parties should also make sure that there are no conflicts of interest in the contracting process and that any anti-bribery laws are observed. The third mistake is ignoring the importance of documenting the terms of an agreement. All details of the contract should be recorded in writing and signed by all parties. In addition, any amendments or modifications to the contract should also be documented. Finally, it is important to avoid any potential conflict of interest between the parties to the contract. Parties should ensure that the contracting process is transparent and that any gifts or offers of money or services intended for the other party pursuant to the arrangement are disclosed. By following these tips, parties can ensure that their government contracts are legally sound.

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What are some common mistakes to avoid when dealing with government contracts?

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