Recently misconfigured or outdated NTP servers have been used in DDoS attacks aganist various organizations. This is not only a threat to the victim of the attack but also, bandwidth overage charges will apply if your server is participating in attacks without your knowledge.
What is NTP?
http://en.wikipedia.org/wiki/Network_Time_Protocol
How is it being used offensively?
If you are reading this article then your server has likely been identified as an older or misconfigured version of NTP and is vulnerable to misusage.
How can I resolve this issue?
Where can I find a template to help me?
http://www.team-cymru.org/ReadingRoom/Templates/secure-ntp-template.html
How can I check if this is fixed afterwards?
If you get a response from the IP from an untrusted source, this service is still misconfigured. If you get a timeout, the issue has been resolved.