Common use of COMPLETION OF THE CONTRACT Clause in Contracts

COMPLETION OF THE CONTRACT. By regulation, the contract of participation is considered to be completed, and a family’s participation in the FSS program is considered to be concluded when one of the following occurs [24 CFR 984.303(g)]: • The FSS family has fulfilled all of its obligations under the contract of participation on or before the expiration of the contract term, including any extension thereof. • 30 percent of the monthly adjusted income of the FSS family equals or exceeds the published existing housing fair market rent for the size of the unit for which the FSS family qualifies based on the PHA’s occupancy standards. The contract of participation will be considered completed and the family’s participation in the FSS program concluded on this basis even though the contract term, including any extension thereof, has not expired, and the family members who have individual training and services plans have not completed all the activities set forth in their plans. Policies on verifying completion of the contract of participation can be found in Section 6-I.C. of this action plan.