View all text of Subpart 4.8 [4.800 - 4.805]
4.804-4 - 4.804-4 Physically completed contracts.
(a) Except as provided in paragraph (b) of this section, a contract is considered to be physically completed when—
(1)(i) The contractor has completed the required deliveries and the Government has inspected and accepted the supplies;
(ii) The contractor has performed all services and the Government has accepted these services; and
(iii) All option provisions, if any, have expired; or
(2) The Government has given the contractor a notice of complete contract termination.
(b) Rental, use, and storage agreements are considered to be physically completed when—
(1) The Government has given the contractor a notice of complete contract termination; or
(2) The contract period has expired.