Common use of Requirement for System for Award Management Clause in Contracts

Requirement for System for Award Management. Unless you are exempted from this requirement under 2 CFR §25.110, you as the recipient must maintain current information in the XXX. This includes information on your immediate and highest level owner and subsidiaries, as well as on all of your predecessors that have been awarded a Federal contract or Federal financial assistance within the last three years, if applicable, until you submit the final financial report required under this Federal award or receive the final payment, whichever is later. This requires that you review and update the information at least annually after the initial registration, and more frequently if required by changes in your information or another Federal award term.

Requirement for System for Award Management. Unless you are exempted from this requirement under 2 CFR §C.F.R. § 25.110, you as the recipient must maintain current information in the XXX. This includes information on your immediate and highest level owner and subsidiaries, as well as on all of your predecessors that have been awarded a Federal contract or Federal financial assistance within the last three years, if applicable, until you submit the final financial report required under this Federal award or receive the final payment, whichever is later. This requires that you review and update the information at least annually after the initial registration, and more frequently if required by changes in your information or another Federal award term.