New rule would demand more info on company ownership

Businesses competing for contracts may have to share more information on company history, including owners and previous owners, as acquisition officials are intent on getting a clearer picture of a bidder’s past, according to a new proposed rule.

Bidders would have to identify immediate owners, subsidiaries and all of its predecessors that have held a federal contract in the previous three years.

Acquisition officials want “to provide a more comprehensive understanding of the performance and integrity of the corporation before awarding a federal contract,” according to the Federal Register notice, which was released Dec. 4.

Further back than three years, acquisition officials believe the information would be less relevant. They also said agencies and companies would not reap the benefits, compared to the work, to set up a system of interrelationships beyond direct owners and subsidiaries.

Information on owners, subsidiaries and predecessors would be in the Federal Awardee Performance and Integrity Information System (FAPIIS) and available to the public. Past performance information would not be available though.

“The objective of this rule is to provide acquisition officials using FAPIIS a comprehensive understanding of the performance and integrity of the corporation in carrying out federal contracts,” officials wrote in the notice on the proposed rule.

The new requirement would set in place a provision in the fiscal 2013 National Defense Authorization Act.

Officials are accepting comments on their proposal through Feb. 2.

About the Author

Matthew Weigelt is a freelance journalist who writes about acquisition and procurement.

Reader Comments

Please post your comments here. Comments are moderated, so they may not appear immediately after submitting. We will not post comments that we consider abusive or off-topic.

Please type the letters/numbers you see above

What is your e-mail address?

My e-mail address is:

Do you have a password?

Forgot your password? Click here


  • Dive into our Contract Award database

    In an exclusive for WT Insider members, we are collecting all of the contract awards we cover into a database that you can sort by contractor, agency, value and other parameters. You can also download it into a spreadsheet. Our databases track awards back to 2013. Read More

  • Navigating the trends and issues of 2016 Nick Wakeman

    In our latest WT Insider Report, we pull together our best advice, insights and reporting on the trends and issues that will shape the market in 2016 and beyond. Read More

contracts DB

Washington Technology Daily

Sign up for our newsletter.

Terms and Privacy Policy consent

I agree to this site's Privacy Policy.