Who Has the Authority to Terminate a Contract

(3) General procedures for the performance of terminated contracts; and (1) cease all work, not make further deliveries and do not place any other orders under the Contract, except – (d) If an overall statement of costs is agreed, an agreement on each cost element is not required. If necessary, disputes can be compromised and questionable issues can be settled amicably. A full settlement does not include costs that are clearly not authorized under the terms of the contract. (e) the preservation of evidence. The TCO retains all written evidence and other data used in decision-making, except that copies of the original accounting records do not need to be made. TCO must return the invoice books to the contractor along with other original documents and documents within a reasonable time. (3) The Contractor`s reimbursable costs under the Contract shall be paid in accordance with the terms of the Contract and Parts 31 and 49 of the Federal Acquisitions Ordinance. [Insert point a(3) of this subsection only if the costs are to be accounted for (see 49.302) or if the costs are subsequently to be covered by a separate settlement agreement.] 49.105-1 Termination Status Reports. If the total cost of ownership and the customer are engaged in different activities, TCO must provide the customer with regular progress reports on termination measures upon request. The contracting authority shall provide the necessary information. 49.105-2 Release of surplus funds.

(a) the TCO considers the resources necessary to carry out the termination and recommends to the contract agent the release of the excess funds within 30 days of receipt of the notice of termination; The initial cancellation of the excess funds obligation should be carried out by the contract agent or the TCO in a timely manner when responsibility is transferred to it. The TCO does not recommend releasing amounts of less than $1,000 unless required by the contract agent. (b) The TCO continuously monitors the funds needed to enable the timely release of additional surplus funds (a recommended format for the release of surplus funds is specified in 49,604). If previous releases of surplus funds result in a decrease below the amount required for settlement, the TCO will immediately inform the contract agent, who will reinstate the funds within 30 days. 49.105-3 Termination record. The total cost of ownership responsible for negotiating the final settlement creates a separate record for each termination. This file contains memoranda and records of all measures related to the regulation (see 4.801). 49.105-4 Site cleaning. In the event of termination of construction contracts, the customer must take measures to ensure the rehabilitation of the site, the protection of usable materials, the elimination of hazards and other measures necessary to leave a safe and healthy site.

(1) General principles for the execution of a settlement proposal, including the contractor`s obligations under the termination clause of the contract; (c) The contracting authority shall authorise guarantee tenders for the performance of the contract, unless it considers that the persons or companies proposed by the guarantor for the execution of the works are not competent and qualified or that the proposal is not in the best interest of the Government. Regardless of the reason you are terminating the contract, you can use this list to better determine where your cause lies and whether or not it is possible to terminate the contract for these reasons. (2) Overpayment under research and development contracts for the reimbursement of costs without profit or fees, if the overpayments are reimbursed to the government within 30 days of the request. 49.305-1 General. (a) The TCO determines the adjusted fees, which may be payable in the manner provided for in the contract. The provision is usually based on a percentage of the performance of the contract or the terminated party. When using this database, factors such as the extent and difficulty of the work performed by the contractor (e.B. Planning, scheduling, technical inspection, engineering work, production and monitoring, placement and monitoring of subcontracts and work performed by the contractor for (1) termination of performance, (2) processing of terminated subcontracts and (3) sale of termination stock) relative to the total work required under the contract or the terminated party. The Contractor`s adjusted fees do not include compensation for subcontracting costs included in the subcontractors` settlement proposals. (b) the ratio between the costs incurred and the estimated total cost of performance of the contract or cancelled part shall be only a factor in the calculation of the percentage of completion; This percentage may be higher or lower than the ratio of costs incurred, depending on the assessment of other relevant factors by the total cost of ownership.

49.305-2 Works contracts. a) The percentage of completion refers to the contractor`s total effort and not just the actual construction work. .