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48 CFR · Federal Acquisition Regulation and Defense supplement

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The codified text (eCFR, as of 2026-10-02). Under the Revolutionary FAR Overhaul ↗, agencies follow class deviations with new text for many parts while the formal rules go through the Federal Register: check the solicitation and your contract's clauses, which rule.

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31 sections with “exercised option”

  • FAR 52.217-4 Evaluation of Option Exercised at Time of Contract Award.
    …08(b), insert a provision substantially the same as the following: Evaluation of Options Exercised at Time of Contract Award (JUN 1988) Except when it is determined in accordance with FAR 17.206(b) not to be in the Government's best inter…
  • FAR 17.208 Solicitation provisions and contract clauses.
    …rt a provision substantially the same as the provision at 52.217-4, Evaluation of Options Exercised at Time of Contract Award, in solicitations when the solicitation includes an option clause, the contracting officer has determined that the…
  • FAR 17.202 Use of options.
    …ke a written determination that there is a reasonable likelihood that the options will be exercised before including the provision at 52.217-5, Evaluation of Options, in the solicitation. (See 17.207(f) with regard to the exercise of option…
  • FAR 17.207 Exercise of options.
    …ll determine the effect of the adjustment on prices under the option before the option is exercised. (c) The contracting officer may exercise options only after determining that— (1) Funds are available; (2) The requirement covered by th…
  • FAR 52.217-8 Option To Extend Services.
    …to prevailing labor rates provided by the Secretary of Labor. The option provision may be exercised more than once, but the total extention of performance hereunder shall not exceed 6 months. The Contracting Officer may exercise the option …
  • DFARS 205.303 Announcement of contract awards.
    …ort all contractual actions, including modifications, that have a face value, excluding unexercised options, of more than $9 million. (A) For undefinitized contractual actions, report the not-to-exceed (NTE) amount. Later, if the definitiz…
  • DFARS 252.217-7000 Exercise of option to fulfill foreign military sales commitments.
    …is contract to fulfill foreign military sales commitments. (b) On the date the option is exercised, the Government shall identify the foreign country for the purpose of negotiating any equitable adjustment attributable to foreign military …
  • FAR 52.219-9 Small Business Subcontracting Plan.
    … modification exceeds the subcontracting plan threshold in FAR 19.702(a), or an option is exercised, the goals of the existing subcontracting plan shall be amended to reflect any new subcontracting opportunities. When the goals in a subcont…
  • DFARS 232.001 Definitions.
    Incremental funding means the partial funding of a contract or an exercised option, with additional funds anticipated to be provided at a later time.
  • DFARS 232.703-1 General.
    …act may be incrementally funded only if— (i) The contract (excluding any options) or any exercised option— (A) Is for severable services; (B) Does not exceed one year in length; and (C) Is incrementally funded using funds available (une…
  • FAR 19.301-2 Rerepresentation by a contractor that represented its status as a small business concern.
    …a)(3) in accordance with 52.219-28, the agency may no longer include the value of options exercised, modifications issued, orders issued, or purchases made under BPAs on that contract in its small business prime contracting goal achievement…
  • FAR 52.212-3 Offeror Representations and Certifications—Commercial Products and Commercial Services.
    …ayer seek Tax Court review, this will not be a final tax liability until the taxpayer has exercised all judicial appeal rights. (B) The IRS has filed a notice of Federal tax lien with respect to an assessed tax liability, and the taxpayer …
  • FAR 1.706 Expiration.
    …ptional for individual D&F's. Authority to act under an individual D&F expires when it is exercised or on an expiration date specified in the document, whichever occurs first. Authority to act under a class D&F expires on the expiration dat…
  • FAR 8.405-3 Blanket purchase agreements (BPAs).
    …ule contract, so long as there are option periods in their GSA Schedule contract that, if exercised, will cover the BPA's period of performance. (e) Review of BPAs. (1) The ordering activity contracting officer shall review the BPA and det…
  • FAR 17.204 Contracts.
    …ng any extension. (b) The contract shall state the period within which the option may be exercised. (c) The period shall be set so as to provide the contractor adequate lead time to ensure continuous production. (d) The period may extend…
  • FAR 19.705-2 Determining the need for a subcontracting plan.
    …ct modification exceeds the subcontracting plan threshold (see 19.702(a)) or an option is exercised, the goals of an existing subcontracting plan shall be amended to reflect any new subcontracting opportunities not envisioned at the time of…
  • FAR 19.816 Exiting the 8(a) program.
    …contractual obligation to complete existing contracts, and any priced options that may be exercised. (b) If an 8(a) contractor is suspended from the program (see 13 CFR 124.305), it may not receive any new 8(a) contracts unless the head of…
  • FAR 28.102-2 Amount required.
    …. Original contract price does not include the price of any options, except those options exercised at the time of contract award. (b) Contracts exceeding $150,000—(1) Performance bonds. Unless the contracting officer determines that a les…
  • FAR 32.703-3 Contracts crossing fiscal years.
    …iscal year and ends in the next fiscal year if the period of the contract awarded, option exercised, or order placed does not exceed one year (10 U.S.C. 3133 and 41 U.S.C. 3902). Funds made available for a fiscal year may be obligated for t…
  • FAR 37.106 Funding and term of service contracts.
    …iscal year and ends in the next fiscal year if the period of the contract awarded, option exercised, or order placed does not exceed one year (10 U.S.C. 3133 and 41 U.S.C. 3902). Funds made available for a fiscal year may be obligated for t…
  • FAR 37.111 Extension of services.
    …to prevailing labor rates provided by the Secretary of Labor. The option provision may be exercised more than once, but the total extension of performance thereunder shall not exceed 6 months.
  • FAR 42.602 Assignment and location.
    …son at the corporate level, (2) the volume of Government sales, (3) the degree of control exercised by the contractor's corporate office over Government-oriented lower-tier operating elements, and (4) the impact of corporate policies and pr…
  • FAR 52.228-15 Performance and Payment Bonds—Construction.
    …. Original contract price does not include the price of any options, except those options exercised at the time of contract award. (b) Amount of required bonds. Unless the resulting contract price is valued at or below the threshold specif…
  • FAR 52.228-16 Performance and Payment Bonds—Other Than Construction.
    …. Original contract price does not include the price of any options, except those options exercised at the time of contract award. (b) The Contractor shall furnish a performance bond (Standard Form 1418) for the protection of the Governmen…
  • FAR 52.247-33 F.o.b. Origin, With Differentials.
    …plant or point to carrier's facility at the time of shipment and, whenever this option is exercised, the Government shall make no reimbursement based on a quoted differential. (4) Offeror's differentials in cents for each 100 pounds for op…
  • DFARS 217.208 Solicitation provisions and contract clauses.
    …racting officer determines that there is a reasonable likelihood that the options will be exercised (10 U.S.C. 3206(e)). This limitation also applies to sealed bid solicitations for the contracts excluded by FAR 17.200.
  • DFARS 225.7004-6 Waiver of restrictions.
    … the effective date of the waiver; and (B) Options for the procurement of items that are exercised after the effective date of the waiver, if the option prices are adjusted for any reason other than the application of the waiver. (2) The …
  • DFARS 226.7202 Policy and procedures.
    …s goal. The contractor must be an eligible contractor when options under the contract are exercised, in order for DoD to continue to receive credit for the contract toward its small disadvantaged business goal. (2) Contracting officers sha…
  • DFARS 232.703-3 Contracts crossing fiscal years.
    …iscal year and ends in the next fiscal year if the period of the contract awarded, option exercised, or order placed does not exceed 1 year (10 U.S.C. 3133).
  • DFARS 237.106 Funding and term of service contracts.
    …iscal year and ends in the next fiscal year if the period of the contract awarded, option exercised, or order placed does not exceed 1 year (10 U.S.C. 3133).
  • DFARS 252.239-7007 Cancellation or Termination of Orders.
    …or facilities when the Contractor has no foreseeable reuse or when the Government has not exercised its option to take title under the Title to Telecommunications Facilities and Equipment clause of this agreement/contract. The Contractor sh…

FAR (chapter 1)

DFARS (chapter 2, Defense)

Source: eCFR, 48 CFR chapters 1 and 2 (GPO GovInfo bulk data) ↗. Rule changes in progress: FAR, DFARS. Terms: glossary.