Common use of Fixed Price Contracts Clause in Contracts

Fixed Price Contracts. (i) All Government-furnished property and all property acquired by the Contractor, title to which vests in the Government under this paragraph (collectively referred to as “Government property”), are subject to the provisions of this clause. (ii) Title to each item of equipment, special test equipment and special tooling acquired by the Contractor for the Government under this contract shall pass to and vest in the Government when its use in performing this contract commences or when the Government has paid for it, whichever is earlier, whether or not title previously vested in the Government. (iii) If this contract contains a provision directing the Contractor to purchase material for which the Government will reimburse the Contractor as a direct item of cost under this contract— (A) Title to material purchased from a vendor shall pass to and vest in the Government upon the vendor’s delivery of such material; and (B) Title to all other material shall pass to and vest in the Government upon— (1) Issuance of the material for use in contract performance; (2) Commencement of processing of the material or its use in contract performance; or

Fixed Price Contracts. (i) All Government-furnished property and all property acquired by the Contractor, title to which vests in the Government under this paragraph (collectively referred to as “``Government property”)'', are subject to the provisions of this clause. (ii) Title to each item of equipment, special test equipment and special tooling acquired by the Contractor for the Government under this contract shall pass to and vest in the Government when its use in performing this contract commences or when the Government has paid for it, whichever is earlier, whether or not title previously vested in the Government. (iii) If this contract contains a provision directing the Contractor to purchase material for which the Government will reimburse the Contractor as a direct item of cost under this contract—contract-- (A) Title to material purchased from a vendor shall pass to and vest in the Government upon the vendor’s 's delivery of such material; and (B) Title to all other material shall pass to and vest in the Government upon—upon-- (1) Issuance of the material for use in contract performance; (2) Commencement of processing of the material or its use in contract performance; or (3) Reimbursement of the cost of the material by the Government, whichever occurs first.

Fixed Price Contracts. (i) All Government-furnished property and all property acquired by the Contractor, title to which vests in the Government under this paragraph (collectively referred to as “``Government property”)’’, are subject to the provisions of this clause. (ii) Title to each item of equipment, special test equipment and special tooling acquired by the Contractor for the Government under this contract shall pass to and vest in the Government when its use in performing this contract commences or when the Government has paid for it, whichever is earlier, whether or not title previously vested in the Government. (iii) If this contract contains a provision directing the Contractor to purchase material for which the Government will reimburse the Contractor as a direct item of cost under this contract— (A) Title to material purchased from a vendor shall pass to and vest in the Government upon the vendor’s delivery of such material; and (B) Title to all other material shall pass to and vest in the Government upon— (1) Issuance of the material for use in contract performance; (2) Commencement of processing of the material or its use in contract performance; or (3) Reimbursement of the cost of the material by the Government, whichever occurs first.

Fixed Price Contracts. (i) All Government-furnished property and all property acquired by the Contractor, title to which vests in the Government under this paragraph (collectively referred to as “Government property”), are subject to the provisions of this clause. (ii) Title to each item of equipment, special test equipment and special tooling acquired by the Contractor for the Government under this contract shall pass to and vest in the Government when its use in performing this contract commences or when the Government has paid for it, whichever is earlier, whether or not title previously vested in the Government. (iii) If this contract contains a provision directing the Contractor to purchase material for which the Government will reimburse the Contractor as a direct item of cost under this contract— (A) Title to material purchased from a vendor shall pass to and vest in the Government upon the vendor’s delivery of such material; and (B) Title to all other material shall pass to and vest in the Government upon— (1) Issuance of the material for use in contract performance; (2) Commencement of processing of the material or its use in contract performance; or (3) Reimbursement of the cost of the material by the Government, whichever occurs first.