[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 930]

 

            TITLE 48--FEDERAL ACQUISITION REGULATIONS SYSTEM

 

                CHAPTER 1--FEDERAL ACQUISITION REGULATION

 

PART 49_TERMINATION OF CONTRACTS--Table of Contents

 

                     Subpart 49.1_General Principles

 

49.109-3  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.