Contract Terminations
49 - ANS-Terminations are covered in what FAR Part?
Contracting Officers shall terminate contracts only when it is in the best interest of the
government - ANS-What is the Authority and Responsibility for terminating a contract?
the exercise of the Government's right to completely or partially terminate performance
of work under a contract when it is in the Government's interest - ANS-What is the
definition of Termination for Convenience?
the exercise of the Government's right to completely or partially terminate a contract
because of the contractor's actual or anticipated failure to perform its contractual
obligations - ANS-What is the definition of Termination for Default?
the exercise of the Government's right to terminate a contract because of the
contractor's failure to deliver goods / services or otherwise breaches a COMMERCIAL
contract - ANS-What is the definition of Termination for Cause
a written agreement in the form of a contract modification settling all or a severable
portion of a settlement proposal - ANS-What is the definition of a Settlement agreement
?
A proposal for effecting settlement of a contract terminated in whole or in part,
submitted by a contractor or subcontractor in the form, and supported by the dated,
required by Part 49 of the FAR - ANS-What is the definition of a Settlement proposal?
-A notice to the contractor that the government is considering a termination for default. -
ANS-What is a Show cause notice?
No. When the price of the undelivered balance of the contract is less than $5,000, the
contract should normally not be terminated for convenience but should be permitted to
run to completion - ANS-When the price of the undelivered balance of the contract is
less than $5,000, should should the contract be terminated?
Cure notice is required for a termination for default
Must be "10" days left in the contractor period of performance to issue a "cure notice"
49 - ANS-Terminations are covered in what FAR Part?
Contracting Officers shall terminate contracts only when it is in the best interest of the
government - ANS-What is the Authority and Responsibility for terminating a contract?
the exercise of the Government's right to completely or partially terminate performance
of work under a contract when it is in the Government's interest - ANS-What is the
definition of Termination for Convenience?
the exercise of the Government's right to completely or partially terminate a contract
because of the contractor's actual or anticipated failure to perform its contractual
obligations - ANS-What is the definition of Termination for Default?
the exercise of the Government's right to terminate a contract because of the
contractor's failure to deliver goods / services or otherwise breaches a COMMERCIAL
contract - ANS-What is the definition of Termination for Cause
a written agreement in the form of a contract modification settling all or a severable
portion of a settlement proposal - ANS-What is the definition of a Settlement agreement
?
A proposal for effecting settlement of a contract terminated in whole or in part,
submitted by a contractor or subcontractor in the form, and supported by the dated,
required by Part 49 of the FAR - ANS-What is the definition of a Settlement proposal?
-A notice to the contractor that the government is considering a termination for default. -
ANS-What is a Show cause notice?
No. When the price of the undelivered balance of the contract is less than $5,000, the
contract should normally not be terminated for convenience but should be permitted to
run to completion - ANS-When the price of the undelivered balance of the contract is
less than $5,000, should should the contract be terminated?
Cure notice is required for a termination for default
Must be "10" days left in the contractor period of performance to issue a "cure notice"
