The work is done, the contract is finished and the government has signed the final results. But the trial is not over. Depending on the type of government mandate that an organization has entered into, the contract could be concluded within months of completion, or it could take years. Standard closing times are set in FAR 4.804. (a) HCA is responsible for taking appropriate steps to ensure that physically concluded contracts are formally concluded in accordance with procedures far 4.804, GSAM 504.804-5 and the following guidelines on simplified acquisitions and contracts with residual balances. HCA is reminded that in the event of contractual remedies, the holder must apply the closing procedures of FAR 4.804-5 to FAR 4.804-1 (2), (3) and (4). However, these closeout actions may be modified to reflect the magnitude of the administration that has been carried out. Contractual activities that have supplemented the far procedures with instructions relevant to the types of contracts, commercial systems and resources used are encouraged to continue the use of these additions. 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) iv) When a contract agent authorizes the lifting of the obligation under points (b) or c) above, the holder establishes the necessary documents for the deed of the contract (e.g.

B, contract change). (b) Contract agents must be vigilant and proactive in appropriate contracting procedures; They must not allow contracts to remain open indefinitely or do not permit the failure to complete timely closing work to breach regulatory or legal requirements or adversely affect the specific and timely financial reporting of ESAs. It is relatively easy to enter into a fixed-price contract. Under this type of contract, the contractor undertakes to supply the plant or product at an agreed price that is rarely adapted. This means that there are no more “negotiations” to be made once the contract ends, and the closure can normally take place within six months. (f) the acquisition of non-contract agents. For newly created open positions that do not require the signature of a contract agent (GSAM 501.603-1 (f)), the Fund Administrator is authorized to rectify or cancel open positions considered void. Examples of these types of documents are micro-purchases with the government`s business card, internal GSA orders and security clearances (z.B IX, IY, GX). Fund managers should follow the financial systems procedures described in this whistleblower memorandum and inform the author of the vacant termination position. (e) These actions by SSO fund managers are considered an internal financial accounting measure and have no influence on the government`s contract rights and obligations until the contract agent formally signs the contract.

(iii) In the absence of a response from the awarding entity, the Fund Administrator is authorized to take appropriate steps to dispossess open positions in the accounting and commercial systems. “For payment purposes, the holder must label his payment completion statement bill as a payment invoice.” one. 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.