42.1200
Scope of subpart
FAR 42.1200 sets the foundation for recognizing contractor changes and ensuring contracts remain valid through proper novation and change-of-name agreements.
Overview
FAR 42.1200 establishes the scope for Subpart 42.12, outlining the policies and procedures related to the recognition of successor contractors when assets are transferred, changes in a contractor’s name, and the execution of novation and change-of-name agreements. This section clarifies when and how the government formally acknowledges changes in contractor identity or ownership to ensure continuity and legal clarity in government contracts. It sets the stage for the detailed requirements and processes found in the rest of Subpart 42.12.
Key Rules
- Recognition of Successor in Interest
- Procedures for acknowledging a new contractor when assets are transferred from the original contractor.
- Recognition of Contractor Name Changes
- Guidelines for recognizing and documenting changes in a contractor’s legal name.
- Execution of Agreements
- Contracting officers are responsible for executing novation and change-of-name agreements to formalize these changes.
Responsibilities
- Contracting Officers: Must ensure proper recognition and documentation of contractor changes and execute necessary agreements.
- Contractors: Must notify the government of asset transfers or name changes and provide required documentation.
- Agencies: Oversee compliance and maintain accurate contract records.
Practical Implications
- This section ensures that government contracts remain enforceable and properly administered when a contractor’s identity changes due to asset transfers or name changes.
- It helps prevent confusion, disputes, or lapses in contract performance by providing a clear process for recognizing new entities or names.
- Failure to follow these procedures can result in delays, payment issues, or legal complications for both contractors and agencies.