Easily Insert Option Field from the Performance Contract

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How to Insert Option Field from the Performance Contract

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welcome students this is C average Golani signing in to take you through the topic how to perform now in the last session we have already covered under the unit performance of a contract as to who can perform we said the promise of himself can perform his legal representative can perform defeat you know dice this agent can perform any third party can perform and finally join promises or any of the joint promises can perform the contract now in in our current session we see as to how a contract can be performed is it necessary to perform the contract in all the times or the performance can be done away with what if the parties mutually agree that the contract should not be performed then such an agreement between them will discharge the contract or since the contract is created by law it will have to be performed or you know possibly there are two persons a nd they have already entered into a contract and they both mutually agree to change the contract to change some of the conditions o

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What is an option in contracting?

An options contract is an agreement between two parties to facilitate a potential transaction on an underlying security at a preset price, referred to as the strike price, prior to or on the expiration date.

Is 52.217-8 unilateral or bilateral?

Answer. Question 1) your understanding is correct, FAR 52.217-8 gives the contracting officer the unilateral right to exercise the option as long as you are still within the notification period identified in the last sentence.

What is 48 CFR 52.217-8?

52.217-8 Option To Extend Services. The Government may require continued performance of any services within the limits and at the rates specified in the contract.

What are option years in government contracts?

Option years are a common feature of service contracts with the federal government. Many such contracts provide for a base period of performance and then allow the Government to exercise one or more options to extend the contract term.

What is the difference between FAR 52.217-8 and FAR 52.217-9?

FAR Subpart 17.2 prescribes two primary clauses for service contracts: (1) 52.217-8 for short term extensions up to six months, typically used for situations outside the contracting offices control when a new contract cannot be awarded on time, and (2) 52.217-9, which normally results in one or more annual options.

What is the purpose of the FAR?

The Federal Acquisition Regulation (FAR) is the primary regulation for use by all executive agencies in their acquisition of supplies and services with appropriated funds.

What is the purpose of the Continuity of Services clause?

(a) The Contractor recognizes that the services under this contract are vital to the Government and must be continued without interruption and that, upon contract expiration, a successor, either the Government or another contractor, may continue them.

What is the purpose of FAR 52.217-8?

FAR 52.217-8 allows the government to extend services without negotiating short extensions to existing contracts in circumstances, such as those here, where the award of a successor contract is delayed.

What is the difference between FAR 52.217-8 and 52.217 9?

FAR Subpart 17.2 prescribes two primary clauses for service contracts: (1) 52.217-8 for short term extensions up to six months, typically used for situations outside the contracting offices control when a new contract cannot be awarded on time, and (2) 52.217-9, which normally results in one or more annual options.

What is the FAR clause 52.217-8 and 52.217-9?

52.2178 Option To Extend Services. The Con- tracting Officer may exercise the option by written notice to the Contractor withinl [insert the period of time within which the Contracting Officer may exercise the op- tion]. 52.2179 Option To Extend the Term of the Contract.

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