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About Metasums

Terry Hersey

Terry Hersey is expert in the pricing and associated regulations and conventions applicable to companies that sell to UK and US governments. He is a Fellow of the Institute of Chartered Management Accountants and has significant business expertise gained from senior management positions held in blue-chip defence companies undertaking major contracts for both UK and US governments.

With  thirty five years of hands-on experience in pricing and financial management of defence contracts for UK and overseas governments, Terry has supported the industry teams engaged with MOD since 1998 in the establishment of arrangements and policies applicable to the pricing of single source Ministry of Defence contracts. Acting as a key member of industry teams engaged in consultation with MOD on both  Yellow Book arrangements and the revised arrangements applicable to contracts awarded after 17th December 2014 has enabled a full understanding of arrangements for the pricing and financial reporting of MOD Single Source Contracts. 

He also has significant practical experience in, and a thorough knowledge of, the pricing and administration of US government contracts subject to Federal Acquisition Regulations (FAR and DFAR). He understands the similarities, and more importantly the key differences, between the requirements and regulatory approach of each government system.

 

Metasums

Metasums Ltd was formed in 2008 to offer Consultancy and Training support to businesses engaged in sales to and performance of contracts and sub-contracts to UK and US governments. Metasums has significant expertise in the obligations that are placed upon, and the protective rights that are available to, contractors in the bidding and subsequent performance of both UK and US government prime and sub-contracts. This expertise includes the requirements placed by government regulations and conventions, upon business systems to support pricing and subsequent contact reporting. Metasums therefore operates in two niche and related markets, offering consultancy and training for acquisition and subsequent support of:

  • UK Ministry of Defence single source contracts negotiated under the (1) 'Yellow Book' arrangements  arrangements (2) Single Source Pricing Regulations 2014, and (3) new commercial arrangements and DEFCONs introduced during first quarter 2015 for new contracts outside of the scope of the SSPRs
  • US government contracts subject to Federal Acquisition Regulations