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CLAUSE GROUP ONE (1) - CLAUSES APPLICABLE TO COMMERCIAL ITEM

CLAUSE GROUP ONE (1) - CLAUSES APPLICABLE TO COMMERCIAL ITEM 2025

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The document outlines the Federal Acquisition Regulation (FAR) clauses applicable to commercial item purchases exceeding the micro-purchase threshold but not exceeding the Simplified Acquisition Threshold. It includes requirements for maintaining Commercial and Government Entity (CAGE) codes, safeguarding contractor information systems, contract terms and conditions, and compliance with various federal laws and executive orders. Key topics include contractor responsibilities for information security, inspection and acceptance of goods, payment processes, termination rights, and flow-down requirements for subcontracts.

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What are commercial clauses?

Commercial clauses are those operative provisions in business agreements which set out the balance of commercial risk agreed between the parties when fulfilling their primary obligations under the contract. They may be common to a wide variety of commercial contracts, but they are not considered to be boilerplate.

What is an example of a commercial contract?

Examples of commercial contracts For example, your business entered a software license agreement with the vendors of all the software you use in your organization. Other examples of commercial contracts include: Joint venture agreement.

What does commercial terms mean in a contract?

Commercial terms are the provisions in a contract that relate to the business aspects of the transaction, such as the scope of work, the deliverables, the payment terms, and the performance standards. Commercial terms are usually negotiated by the parties and are based on their business objectives and expectations.

What are commercial clauses in a contract?

These include indemnification, limit of liability, copyright, use restrictions, and more. Without these clauses, the parties may be exposed to unnecessary risks, since they may not have the legal rights to resolve certain issues if disputes arise.

What are the commercial conditions of a contract?

The Commercial Conditions of Contract relate to pricing, delivery, licence terms, indemnity etc. Some conditions require information to be inserted or options to be selected depending on the subject matter of the contract, for example those relating to levels of liability, contract extension periods etc.

How to determine if an item is commercial?

Commercial items may include the following: Products, other than real property, that have been offered for sale, lease, or license to the general public. Possible indications that an item is commercial are a commercial sales history, listing in catalogs or brochures, an established price, and distributors.

Can a commercial item be modified and still be considered commercial?

Items that are available to the general public that have minor modifications are also considered commercial items. Services such as installation, maintenance, repair, and training are also commercial items if they are offered to the general public or used in support of a commercial item.

What type of contracts can be awarded when acquiring commercial items of supply?

The contracting officer shall use firm-fixed-price or fixed-price with economic price adjustment contracts when acquiring commercial products and commercial services, except as provided in 12.207(b). (b) Time-and-materials contracts and labor-hour contracts are not fixed-price contracts.

CLAUSE GROUP ONE (1) - CLAUSES APPLICABLE TO COMMERCIAL ITEM 2025

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What are commercial clauses?

What is an example of a commercial contract?

What does commercial terms mean in a contract?

What are commercial clauses in a contract?

What are the commercial conditions of a contract?

People also ask

How to determine if an item is commercial?

Can a commercial item be modified and still be considered commercial?

What type of contracts can be awarded when acquiring commercial items of supply?

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CLAUSE GROUP ONE (1) - CLAUSES APPLICABLE TO COMMERCIAL ITEM 2025

Here's how it works

How to quickly redact CLAUSE GROUP ONE (1) - CLAUSES APPLICABLE TO COMMERCIAL ITEM online

Complete this form in 5 minutes or less

Got questions?

What are commercial clauses?

What is an example of a commercial contract?

What does commercial terms mean in a contract?

What are commercial clauses in a contract?

What are the commercial conditions of a contract?

Related Searches

People also ask

How to determine if an item is commercial?

Can a commercial item be modified and still be considered commercial?

What type of contracts can be awarded when acquiring commercial items of supply?

Related links

Try more PDF tools