49.603
Formats for termination for convenience settlement agreements
Use the prescribed FAR 49.603 formats as the basis for all termination for convenience settlement agreements, modifying only as necessary to comply with agency-specific clauses.
Overview
FAR 49.603 provides standardized formats for termination for convenience settlement agreements, ensuring consistency and compliance in documenting settlements between the government and contractors. These formats cover various contract types and termination scenarios, including fixed-price and cost-reimbursement contracts, both for complete and partial terminations, as well as no-cost settlements and settlements involving only subcontractors. Termination contracting officers (TCOs) are permitted to modify these formats to align with special termination clauses authorized by their agencies, but the core structure should remain substantially as shown. This section references related procedures and forms in FAR 49.109, 49.501, and 49.505(c).