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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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55 sections with “termination inventory”: the first 40

  • FAR 49.104 Duties of prime contractor after receipt of notice of termination.
    After receipt of the notice of termination, the contractor shall comply with the notice and the termination clause of the contract, except as otherwise directed by the TCO. The notice and clause applicable to convenience terminations genera…
  • FAR 49.105 Duties of termination contracting officer after issuance of notice of termination.
    (a) Consistent with the termination clause and the notice of termination, the TCO shall— (1) Direct the action required of the prime contractor; (2) Examine the settlement proposal of the prime contractor and, when appropriate, the settle…
  • FAR 49.603-1 Fixed-price contracts—complete termination.
    … This supplemental agreement settles the settlement proposal resulting from the Notice of Termination dated ________________________. (b) The parties agree to the following: (1) The Contractor certifies that all contract termination inven…
  • FAR 49.603-2 Fixed-price contracts—partial termination.
    … This supplemental agreement settles the settlement proposal resulting from the Notice of Termination dated __________________. (b) The parties agree to the following: (1) The terminated portion of the contract is as follows: [specify the…
  • FAR 49.603-3 Cost-reimbursement contracts—complete termination, if settlement includes cost.
    … This supplemental agreement settles the settlement proposal resulting from the Notice of Termination dated __________________. (b) The parties agree to the following: (1) The Contractor certifies that all contract termination inventory (…
  • FAR 52.249-2 Termination for Convenience of the Government (Fixed-Price).
    As prescribed in 49.502(b)(1)(i), insert the following clause: Termination for Convenience of the Government (Fixed-Price) (APR 2012) (a) The Government may terminate performance of work under this contract in whole or, from time to time,…
  • FAR 52.249-3 Termination for Convenience of the Government (Dismantling, Demolition, or Removal of Improvements).
    As prescribed in 49.502(b)(2), insert the following clause: Termination for Convenience of the Government (Dismantling, Demolition, or Removal of Improvements) (APR 2012) (a) The Government may terminate performance of work under this con…
  • FAR 52.249-5 Termination for Convenience of the Government (Educational and Other Nonprofit Institutions).
    As prescribed in 49.502(d), insert the following clause: Termination for Convenience of the Government (Educational and Other Nonprofit Institutions) (AUG 2016) (a) The Government may terminate performance of work under this contract in w…
  • FAR 52.249-6 Termination (Cost-Reimbursement).
    As prescribed in 49.503(a)(1), insert the following clause: Termination (Cost-Reimbursement) (MAY 2004) (a) The Government may terminate performance of work under this contract in whole or, from time to time, in part, if— (1) The Contrac…
  • FAR 31.205-42 Termination costs.
    Contract terminations generally give rise to the incurrence of costs or the need for special treatment of costs that would not have arisen had the contract not been terminated. The following cost principles peculiar to termination situation…
  • FAR 49.206-3 Submission of inventory disposal schedules.
    Subject to the terms of the termination clause, and whenever termination inventory is involved, the contractor shall submit complete inventory disposal schedules to the TCO reflecting inventory that is allocable to the terminated portion of…
  • FAR 49.303-2 Submission of inventory disposal schedules.
    Subject to the terms of the termination clause, and whenever termination inventory is involved, the contractor shall submit complete inventory disposal schedules to the TCO reflecting inventory that is allocable to the terminated portion of…
  • DFARS 252.239-7007 Cancellation or Termination of Orders.
    As prescribed in 239.7411(a), use the following clause: Cancellation or Termination of Orders (SEP 2019) (a) Definitions. As used in this clause— Actual nonrecoverable costs means the installed costs of the facilities and equipment, less…
  • FAR 2.101 Definitions.
    …For use in subpart 9.4, see the definition at 9.403. (2) For use of affiliates in size determinations, see the definition of “small business concern” in this section. Agency head or head of the agency means the Secretary, Attorney General…
  • FAR 45.605 Inventory disposal reports.
    … schedule. The report shall be provided to the administrative contracting officer or, for termination inventory, to the termination contracting officer, with a copy to the property administrator.
  • FAR 49.108-3 Settlement procedure.
    …r any amount for loss of anticipatory profits or consequential damages resulting from the termination of any subcontract (but see 49.108-5). (b) Except as provided in 49.108-4, the TCO shall require that— (1) All subcontractor termination…
  • FAR 49.112-1 Partial payments.
    …ent of the contract price, adjusted for undelivered acceptable items completed before the termination date, or later completed with the approval of the TCO (see 49.205); (2) 100 percent of the amount of any subcontract settlement paid by t…
  • FAR 49.601-2 Letter notice.
    The following letter notice of termination is suggested for use if a contract for supplies is being terminated for convenience. With appropriate modifications, it may be used in terminating contracts for other than supplies and in terminati…
  • FAR 49.602-1 Termination settlement proposal forms.
    …oposal (Inventory Basis), shall be used to submit settlement proposals resulting from the termination of fixed-price contracts if the proposals are computed on an inventory basis (see 49.206-2(a)). (b) Standard Form 1436, Settlement Propos…
  • FAR 49.603-8 Fixed-price contracts—settlements with subcontractors only.
    …ment settles that portion of the settlement proposal of the Contractor that is based upon termination of the following subcontracts entered into in performing this contract: [Insert a list of the terminated subcontracts included in this se…
  • FAR 49.606 Granting subcontract settlement authorization.
    … subject to the following conditions and requirements: (1) The amount of the subcontract termination settlement does not exceed $____________ [insert limit of authorization being granted], computed as follows: (i) Do not deduct advance or…
  • FAR 52.232-12 Advance Payments.
    …irect costs. Other withdrawals require approval in writing by the administering office. Determinations of whether costs are properly allocable, allowable, and reasonable shall be in accordance with generally accepted accounting principles, …
  • FAR 52.245-1 Government Property.
    …g., as a result either of any changes in the specifications or plans thereunder or of the termination of the contract (or subcontract thereunder), before completion of the work, for the convenience or at the option of the Government; and (…
  • FAR 49.002 Applicability.
    (a)(1) This part applies to contracts that provide for termination for the convenience of the Government or for the default of the contractor (see also 12.403 and 13.302-4). (2) This part does not apply to commercial product and commercial…
  • DFARS 245.602-1 Inventory disposal schedules.
    For termination inventory, plant clearance officers shall verify inventory schedules, either directly or through appropriate technical personnel, to determine the following: (a) Allocability. (1) Review contract requirements, delivery sch…
  • FAR 15.408 Solicitation provisions and contract clauses.
    …ified cost or pricing data will be required or for which any preaward or postaward cost determinations will be subject to part 31. (h) Facilities Capital Cost of Money. The contracting officer shall insert the provision at 52.215-16, Facil…
  • FAR 49.206-2 Bases for settlement proposals.
    …ory basis is also appropriate for use under the following circumstances: (i) The partial termination of a construction or related professional services contract. (ii) The partial or complete termination of supply orders under any terminat…
  • FAR 52.216-16 Incentive Price Revision—Firm Target.
    … contract, except to the extent that— (1) The parties may agree in writing, before the determination of total final price, to exclude specific elements of cost from this price and to a procedure for subsequent disposition of those elements…
  • FAR 52.216-17 Incentive Price Revision—Successive Targets.
    … contract, except to the extent that— (1) The parties may agree in writing, before the determination of total final price, to exclude specific elements of cost from this price and to a procedure for subsequent disposition of these elements…
  • FAR 53.249 Termination of contracts.
    (a) The following forms are prescribed for use in connection with the termination of contracts, as specified in subpart 49.6. These forms are available at the GSA Forms Library at https://www.gsa.gov/forms. These forms are authorized for lo…
  • DFARS 249.7000 Terminated contracts with Canadian Commercial Corporation.
    …er 8, Annex 8.3, available at http://www.tpsgc-pwgsc.gc.ca/app-acq/ga-sm/index-eng.html, “Termination for Convenience Process, Public Works and Government Services Canada.” (b) Contracting officers shall ensure that the Canadian Commercial…
  • DFARS 252.242-7004 Material Management and Accounting System.
    …ocedures. (e) Material weaknesses. (1) The Contracting Officer will provide an initial determination to the Contractor, in writing, of any material weaknesses. The initial determination will describe the underlying deficiencies in sufficie…
  • FAR 32.503-15 Application of Government title terms.
    … property are governed by— (1) The clause at 52.245-1, Government Property; and (2) The termination clauses at 52.249, for termination inventory. (c) The contractor may sell or otherwise dispose of current production scrap in the ordinar…
  • FAR 49.108-4 Authorization for subcontract settlements without approval or ratification.
    …tling settlement proposals, including proposals for retention, sale, or other disposal of termination inventory of the immediate and lower tier subcontractors (the TCO shall obtain the advice and recommendations of (A) the appropriate audit…
  • FAR 49.202 Profit.
    … not be allowed the contractor for material or services that, as of the effective date of termination, have not been delivered by a subcontractor, regardless of the percentage of completion. The TCO may use any reasonable method to arrive a…
  • FAR 49.204 Deductions.
    …actor under a settlement, the TCO shall deduct— (a) The agreed price for any part of the termination inventory purchased or retained by the contractor, and the proceeds from any materials sold that have not been paid or credited to the Gov…
  • FAR 49.305-1 General.
    …ermine the adjusted fee to be paid, if any, in the manner provided by the contract. The determination is generally based on a percentage of completion of the contract or of the terminated portion. When this basis is used, factors such as th…
  • FAR 31.001 Definitions.
    …ces between actuarial assumptions and actual experience. Actuarial valuation means the determination, as of a specified date, of the normal cost, actuarial accrued liability, actuarial value of the assets of a pension plan, and other relev…
  • FAR 42.302 Contract administration functions.
    …es and billing rates for those contractors meeting the criteria for contracting officer determination in subpart 42.7. (10) Attempt to resolve issues in controversy, using ADR procedures when appropriate (see subpart 33.2); prepare finding…
  • FAR 45.600 Scope of subpart.
    …o contracts and of property that forms the basis of a claim against the Government (e.g., termination inventory under fixed-price contracts). This subpart does not apply to the disposal of real property or to property for which the Governme…

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.