Close Out Agreement
Below is a checklist of the administrative measures required to enter into a contract that has met all the terms and conditions. This task is simply related to a standard fixed-rate delivery contract, in which the file contains documents indicating that the final product has been received, verified and accepted and that the full payment has been made. The process is more complex when it comes to large cost-refund contracts (for example. B research and development), with advance payments, partial deliveries and numerous modification contracts. The review of the contractor`s overhead rates also prolongs the process. However, the end goal is the same; determine whether the contractor has met all contractual obligations and whether the contracting authority has fulfilled its obligations. The best practice guide provides a good list of key elements of the contracting process in Chapter 10. There is no deadline prescribed by the Confederation if the contract has not been concluded (i.e. the final payment, the release of the deposited contractor).
However, a well-constructed contract would set deadlines for the contractor`s ability to submit invoices. This situation is a good argument for early termination of the contract. If the contractor has been overstayed and the Agency has not previously informed of an imminent overrun and has not obtained the Agency`s authorization to cover the costs, it is highly doubtful that you will have to bear the overrun. This may be due to the final review of overhead rates, late subcontractor counts, etc., but the contractor has a positive duty to control costs and to be aware of where they are at all times in relation to contract financing. (Rating: May 2010) Has. The conclusion of the contract is part of the management of the contracts and therefore has the same objective: “… Ensure that contractors work in accordance with the terms and specifications of their contracts or orders. As with contract management, the scope of contracting varies greatly depending on the type of contract and the type of product or service purchased. Therefore, there is not a single procedure that can be used for all types of contracts and products purchased.
This is essentially an audit and documentation on compliance with all contract requirements. There is a time requirement set by the FTA; However, it should not affect the closing process. The ESTV Director`s Contract in paragraph 8.c. provides that “the recipient undertakes to maintain all data, documents, reports, registrations, leases, leases, third-party contracts and project-related support materials as intact and easily accessible as the federal government may require.” At the conclusion of the contract, it should be submitted in reference to federal project assistance to ensure that these records are kept for the three years required after the project closes. (Revised: May 2010) There is no timetable for closing the contract. This is good office management. In order to prevent the creation of many files in the acquisition or program office, it is necessary to establish a regular schedule for files at all contracts concluded (z.B.