[Code of Federal Regulations]

[Title 48, Volume 1]

[Revised as of October 1, 2005]

From the U.S. Government Printing Office via GPO Access

[CITE: 48CFR49]



[Page 925]

 

            TITLE 48--FEDERAL ACQUISITION REGULATIONS SYSTEM

 

                CHAPTER 1--FEDERAL ACQUISITION REGULATION

 

PART 49_TERMINATION OF CONTRACTS--Table of Contents

 

                     Subpart 49.1_General Principles

 

49.105-2  Release of excess funds.



    (a) The TCO shall estimate the funds required to settle the 

termination, and within 30 days after the receipt of the termination 

notice, recommend the release of excess funds to the contracting 

officer. The initial deobligation of excess funds should be accomplished 

in a timely manner by the contracting officer, or the TCO, if delegated 

the responsibility. The TCO shall not recommend the release of amounts 

under $1,000, unless requested by the contracting officer.

    (b) The TCO shall maintain continuous surveillance of required funds 

to permit timely release of any additional excess funds (a recommended 

format for release of excess funds is in 49.604). If previous releases 

of excess funds result in a shortage of the amount required for 

settlement, the TCO shall promptly inform the contracting officer, who 

shall reinstate the funds within 30 days.



[56 FR 67134, Dec. 27, 1991]