Runout Requirements - Final Transition Clause Samples

The 'Runout Requirements - Final Transition' clause defines the obligations and procedures for handling claims that are incurred but not yet processed or paid at the end of a contract or during a transition period. Typically, this clause specifies the timeframe within which such claims must be submitted and paid, and may outline responsibilities for both the outgoing and incoming parties regarding claim administration. Its core practical function is to ensure that all outstanding claims are properly managed and settled during the transition, preventing gaps in coverage or disputes over payment responsibilities.
Runout Requirements - Final Transition. During the final forty-five (45) days before the end of the closeout period, the terminating and successor contractors shall share operational responsibilities, as delineated below:
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