Common use of CONTRACT CLOSE OUT Clause in Contracts

CONTRACT CLOSE OUT. The Contractor agrees to work in partnership with the Contracting Officer to close out contracts or task orders as soon as possible after they are physically completed. Since this is primarily a services contract, it is anticipated the costs under non-labor CLINS are to be an insignificant amount to the extent that will allow for the provisional rates established to be used as the basis to negotiate final costs on non-fixed-price contracts issued under the MOA. However, the Contracting Officer for the individual contract or task order has the authority to require an audit of final indirect cost rates, as provided in AMS 3.3.1-5, when determined necessary to protect the Government’s interest. (1) Upon the completion of a contract, the Contractor will communicate with the Program Office COR to determine that all work was completed and accepted. (2) The Contractor will request property disposition for a contract involving Government Furnished Property and/or Contractor acquired property on behalf of the Government. The request will be made in writing and submitted to the Program Office COR. The request will include an inventory (description, quantity, location, value, condition) of property of disposition. The Program Office COR will respond and provide written disposition instructions to the Contractor. (3) The Contractor will submit the following information and documents for each separate contract: (a) Contractor's assignment of refund rebates and credits. (b) Contractor's release. (c) Report of inventions and subcontracts, materials and software. (d) A list of all Government Furnished Equipment (GFE) and the intended time and place for return. (e) Final Invoice must be identified as "Final Invoice." (4) The Contracting Officer will issue a modification to de-obligate any remaining funds and close out the contract.