Common use of LIMITED RISK OF LOSS REQUESTS Clause in Contracts

LIMITED RISK OF LOSS REQUESTS. The Seller shall submit requests for limited risk of loss to the Buyer's Authorized Procurement Representative. Requests for Limited Risk Of Loss must include: (i) a listing, including quantity and unit prices, of all loss, damage, or destruction of Government Property the requesting activity has incurred in three years prior to the date of request, (ii) the total quantity and cost of all Government Property accountable to the Seller's site performing the subcontract at the time of the request, and (iii) a copy of the Seller's most recent Formal Government Property System Analysis or a statement that no such analysis has been conducted at the site involved. In the event the Seller’s request is for, or includes, limited risk of loss for a Seller subcontractor, Seller shall submit the information listed above on each Seller subcontractor to whom Seller is requesting that limited risk of loss be extended. (52.245-2.4) FINANCIAL REPORTING OF NASA PROPERTY IN THE CUSTODY OF 2.5 and 52.245-2.6 of this clause below. Report Government-Owned/Contractor-Held Property, in accordance with the instructions on the Buyer provided form (HOU-BMF-1018) and the direction provided below in paragraphs 52.245-2.5 and 52.245-2.6. HOU-BMF-1018 should be completed as described in NASA FAR Supplement 1845.7101, Instructions for preparing NASA Form 1018, except as stated in this clause or the instructions on HOU-BMF-1018.