48 CFR 49.109-3 - 49.109-3 Government property.

Regulations last checked for updates: May 06, 2024

Title 48 - Federal Acquisition Regulations System last revised: May 02, 2024

View all text of Subpart 49.1 [49.100 - 49.115]

49.109-3 - 49.109-3 Government property.

Before execution of a settlement agreement, the TCO shall determine the accuracy of the Government property account for the terminated contract. If an audit discloses property for which the contractor cannot account, the TCO shall reserve in the settlement agreement the rights of the Government regarding that property or make an appropriate deduction from the amount otherwise due the contractor.

authority: 40 U.S.C. 121(c); 10 U.S.C. chapter 4 and 10 U.S.C. chapter 137 legacy provisions (see 10 U.S.C. 3016); and 51 U.S.C. 20113.

source: 48 FR 42447, Sept. 19, 1983, unless otherwise noted.

cite as: 48 CFR 49.109-3