Termination For Convenience of The Exchange. The performance of work under this contract may be terminated by the Exchange in accordance with this clause in whole, or from time to time in part, whenever the contracting officer shall determine that such termination is in the best interest of the Exchange. Any such termination shall be affected by delivery to the contractor of a Notice of Termination specifying the extent to which performance of work under the contract is terminated, and the date upon which such termination becomes effective. After receipt of a Notice of Termination, and except as otherwise directed by the contracting officer, the contractor shall: stop work under the contract on the date and to the extent specified in the Notice of Termination; place no further orders or subcontracts for materials, services or facilities, except as may be necessary for completion of such portion of work under the contract as is not terminated; terminate all orders and subcontracts to the extent that they relate to the performance of work terminated by the Notice of Termination; assign to the Exchange, in the manner, at the times, and to the extent directed by the contracting officer, all of the right, title and interest of the contractor under the orders and subcontracts so terminated, in which case the Exchange shall have the right, in its discretion, to settle or pay any or all claims arising out of the termination of such orders and subcontracts; with approval or ratification to the extent required by the Contracting Officer, settle all outstanding liabilities and termination settlement proposals arising from the termination of subcontracts; the approval or ratification will be final for purposes of this clause. transfer title to and deliver to the Exchange, in the manner, at the times, and to the extent, if any, as directed by the contracting officer (a) the fabricated or unfabricated parts, work in process, completed work, supplies and other material produced as a part of, or acquired in connection with the performance of, the work terminated by the Notice of Termination, and (b) the completed or partially completed plans, drawings, information, and other property which, if the contract had been completed, would have been required to be furnished to the Exchange; use its best efforts to sell, in the manner, at the times, to the extent, and at the price or prices directed or authorized by the contracting officer, any property of the types referred to in subparagraph "b (6)" above, provided, however, that the contractor: shall not be required to extend credit to any purchaser may acquire any such property under the conditions prescribed by and at a price or prices approved by the contracting officer; and provided further that the proceeds of any such transfer or disposition shall be applied in reduction of any payments to be made by the Exchange to the contractor under this contract or shall otherwise be credited to the price or cost of the work covered by this contract or paid in such other manner as the contracting officer may direct; complete performance of such part of the work as shall not have been terminated by the Notice of Termination; and take such action as may be necessary, or as the contracting officer may direct, for the protection and preservation of the property related to this contract which is in the possession of the contractor and in which the Exchange has or may acquire an interest. After receipt of a Notice of Termination, the contractor shall submit a termination claim to the contracting officer, in the form and with the certification prescribed by the contracting officer. Such claim shall be submitted promptly but in no event later than one year from the effective date of termination, unless one or more extensions in writing are granted by the contracting officer, upon request of the contractor made in writing within such one-year period or authorized extension thereof. However, if the contracting officer determines that the facts justify such action, the contracting officer may receive and act upon any such termination claim at any time after such one-year period of any extension thereof. Upon failure of the contractor to submit its termination claim within the time allowed, the contracting officer may determine, on the basis of information available, the amount, if any, due to the contractor by reason of the termination and shall thereupon pay to the contractor the amount so determined. Subject to the provisions of subparagraph "c, " the contractor and the contracting officer may agree upon the whole or any part of the amount or amounts to be paid to the contractor by reason of a total or partial termination of work pursuant to this clause, which amount or amounts may include a reasonable allowance for profit on work done: provided, that such agreed amount or amounts, exclusive of settlement costs, shall not exceed the total contract price as reduced by the amount of payments otherwise made and as further reduced by the contract price of work not terminated. The contract shall be amended accordingly, and the contractor shall be paid the agreed amount. Nothing in subparagraph "e" of this clause, prescribing the amount to be paid to the contractor in the event of failure of the contractor and the contracting officer to agree upon the whole amount to be paid to the contractor by reason of the termination of work pursuant to this clause, shall be deemed to limit, restrict, or otherwise determine or affect the amount or amounts which may be agreed upon to be paid to the contractor pursuant to this subparagraph "d." In the event of the failure of the contractor and the contracting officer to agree, as provided in subparagraph "d", upon the whole amount to be paid to the contractor by reason of the termination of work pursuant to this clause, the Exchange, but without duplication of any amounts agreed upon in accordance with subparagraph "d", shall pay to the contractor the following amounts: with respect to all contract work performed prior to the effective date of the Notice of Termination, the total (without duplication of any items) of: the cost of such work; except that part of the cost of work which is attributable to overhead (including bonding and insurance costs) will not exceed 12% of the total of this amount.
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Samples: Contract for Shopping Center Image Upgrade, Contract for Services, Contract for Ordinance Troop Store Mpa Expansion
Termination For Convenience of The Exchange. β
a) The performance of work under this contract may be terminated by the Exchange in accordance with this clause in whole, or from time to time in part, whenever the contracting officer shall determine that such termination is in the best interest of the Exchange. Any such termination shall be affected by delivery to the contractor of a Notice of Termination specifying the extent to which performance of work under the contract is terminated, and the date upon which such termination becomes effective. .
b) After receipt of a Notice of Termination, and except as otherwise directed by the contracting officer, the contractor shall: :
1. stop work under the contract on the date and to the extent specified in the Notice of Termination; ;
2. place no further orders or subcontracts for materials, services or facilities, except as may be necessary for completion of such portion of work under the contract as is not terminated; ;
3. terminate all orders and subcontracts to the extent that they relate to the performance of work terminated by the Notice of Termination; ;
4. assign to the Exchange, in the manner, at the times, and to the extent directed by the contracting officer, all of the right, title and interest of the contractor under the orders and subcontracts so terminated, in which case the Exchange shall have the right, in its discretion, to settle or pay any or all claims arising out of the termination of such orders and subcontracts; ;
5. with approval or ratification to the extent required by the Contracting Officer, settle all outstanding liabilities and termination settlement proposals arising from the termination of subcontracts; the approval or ratification will be final for purposes of this clause.
6. transfer title to and deliver to the Exchange, in the manner, at the times, and to the extent, if any, as directed by the contracting officer (a) the fabricated or unfabricated parts, work in process, completed work, supplies and other material produced as a part of, or acquired in connection with the performance of, the work terminated by the Notice of Termination, and (b) the completed or partially completed plans, drawings, information, and other property which, if the contract had been completed, would have been required to be furnished to the Exchange; ;
7. use its best efforts to sell, in the manner, at the times, to the extent, and at the price or prices directed or authorized by the contracting officer, any property of the types referred to in subparagraph "b (6)" above, provided, however, that the contractor: :
a. shall not be required to extend credit to any purchaser purchaser
b. may acquire any such property under the conditions prescribed by and at a price or prices approved by the contracting officer; and provided further that the proceeds of any such transfer or disposition shall be applied in reduction of any payments to be made by the Exchange to the contractor under this contract or shall otherwise be credited to the price or cost of the work covered by this contract or paid in such other manner as the contracting officer may direct; ;
8. complete performance of such part of the work as shall not have been terminated by the Notice of Termination; and and
9. take such action as may be necessary, or as the contracting officer may direct, for the protection and preservation of the property related to this contract which is in the possession of the contractor and in which the Exchange has or may acquire an interest. .
c) After receipt of a Notice of Termination, the contractor shall submit a termination claim to the contracting officer, in the form and with the certification prescribed by the contracting officer. Such claim shall be submitted promptly but in no event later than one year from the effective date of termination, unless one or more extensions in writing are granted by the contracting officer, upon request of the contractor made in writing within such one-year period or authorized extension thereof. However, if the contracting officer determines that the facts justify such action, the contracting officer may receive and act upon any such termination claim at any time after such one-year period of any extension thereof. Upon failure of the contractor to submit its termination claim within the time allowed, the contracting officer may determine, on the basis of information available, the amount, if any, due to the contractor by reason of the termination and shall thereupon pay to the contractor the amount so determined. .
d) Subject to the provisions of subparagraph "c, " the contractor and the contracting officer may agree upon the whole or any part of the amount or amounts to be paid to the contractor by reason of a total or partial termination of work pursuant to this clause, which amount or amounts may include a reasonable allowance for profit on work done: provided, that such agreed amount or amounts, exclusive of settlement costs, shall not exceed the total contract price as reduced by the amount of payments otherwise made and as further reduced by the contract price of work not terminated. The contract shall be amended accordingly, and the contractor shall be paid the agreed amount. Nothing in subparagraph "e" of this clause, prescribing the amount to be paid to the contractor in the event of failure of the contractor and the contracting officer to agree upon the whole amount to be paid to the contractor by reason of the termination of work pursuant to this clause, shall be deemed to limit, restrict, or otherwise determine or affect the amount or amounts which may be agreed upon to be paid to the contractor pursuant to this subparagraph "d." contractor
e) In the event of the failure of the contractor and the contracting officer to agree, as provided in subparagraph "d", upon the whole amount to be paid to the contractor by reason of the termination of work pursuant to this clause, the Exchange, but without duplication of any amounts agreed upon in accordance with subparagraph "d", shall pay to the contractor the following amounts: :
1. with respect to all contract work performed prior to the effective date of the Notice of Termination, the total (without duplication of any items) of: :
a. the cost of such work; except that part of the cost of work which is attributable to overhead (including bonding and insurance costs) will not exceed 12% of the total of this amount.
b. the cost of settling and paying claims arising out of the termination of work under subcontracts or orders as provided in subparagraph "b(5)" above, exclusive of the amounts paid or payable on account of supplies or materials delivered or services furnished by the subcontractor prior to the effective date of the Notice of Termination of work under this contract, which amounts shall be included in the cost on account of which payment is made under subdivision "(a)" above; and a sum, as profit on subdivision "
(a) above, equal to two percent of that part of the cost determined under subdivision "
(a) which represents the cost of articles or materials delivered to the site but not yet incorporated in the project, as of the effective date of the Notice of Termination, plus a sum equal to eight percent of the balance of the amount determined under subdivision "(a)" above, except that the total of such sums shall not exceed six percent of the total of the cost of the work as determined under "(a)" above; however, no profit shall be allowed on that part of the cost of the work, if any, that represents any charges for interest or borrowing; and finally, if it appears that the contractor would have sustained a loss on the entire contract had it been completed, no profit shall be included or allowed under this subdivision "(c)" and an appropriate adjustment shall be made reducing the amount of settlement to reflect the indicated rate of loss; and
2. the reasonable cost of preservation and protection of property incurred pursuant to subparagraph "b (9)", hereof; and any other reasonable cost incidental to termination of work under this contract, including expense incidental to the determination of the amount due to the contractor as the result of the termination of work under this contract. The total sum to be paid to the contractor under subparagraph "e (1)" above shall not exceed the total contract price as reduced by the amount of payments otherwise made and as further reduced by the contract price of work not terminated.
3. Except for normal spoilage, and except to the extent that the Exchange shall have otherwise expressly assumed the risk of loss, there shall be excluded from the amounts payable to the contractor as provided in subparagraph "e)1", the fair value, as determined by the contracting officer, of property which is destroyed, lost, stolen or damaged so as to become undeliverable to the Exchange, or to a buyer pursuant to subparagraph "b)7".
f) The contractor shall have the right of appeal under the clause of this contract entitled "Disputes," from any determination made by the contracting officer under subparagraphs "c", "e" or "h" hereof, except that if the contractor has failed to submit a claim within the time provided in subparagraphs "c" or "h" hereof and has failed to request extension of such time the contractor shall have no such right of appeal. In any case where the contracting officer has made a determination of the amount due under subparagraphs "c", "e" or "h" hereof, the Exchange shall pay to the contractor the following: (1) if there is no right of appeal hereunder or if no timely appeal has been taken, the amount so determined by the contracting officer; or
Appears in 1 contract
Samples: Contract for Relocate Express
Termination For Convenience of The Exchange. a) The performance of work under this contract may be terminated by the Exchange in accordance with this clause in whole, or from time to time in part, whenever the contracting officer shall determine that such termination is in the best interest of the Exchange. Any such termination shall be affected effected by delivery to the contractor of a Notice of Termination specifying the extent to which performance of work under the contract is terminated, and the date upon which such termination becomes effective. .
b) After receipt of a Notice of Termination, and except as otherwise directed by the contracting officer, the contractor shall: :
1. stop work under the contract on the date and to the extent specified in the Notice of Termination; ;
2. place no further orders or subcontracts for materials, services or facilities, except as may be necessary for completion of such portion of work under the contract as is not terminated; ;
3. terminate all orders and subcontracts to the extent that they relate to the performance of work terminated by the Notice of Termination; ;
4. assign to the Exchange, in the manner, at the times, and to the extent directed by the contracting officer, all of the right, title and interest of the contractor under the orders and subcontracts so terminated, in which case the Exchange shall have the right, in its discretion, to settle or pay any or all claims arising out of the termination of such orders and subcontracts; ;
5. with approval or ratification to the extent required by the Contracting Officer, settle all outstanding liabilities and termination settlement proposals arising from the termination of subcontracts; the approval or ratification will be final for purposes of this clause.
6. transfer title to and deliver to the Exchange, in the manner, at the times, and to the extent, if any, as directed by the contracting officer (a) the fabricated or unfabricated parts, work in process, completed work, supplies and other material produced as a part of, or acquired in connection with the performance of, the work terminated by the Notice of Termination, and (b) the completed or partially completed plans, drawings, information, and other property which, if the contract had been completed, would have been required to be furnished to the Exchange; ;
7. use its best efforts to sell, in the manner, at the times, to the extent, and at the price or prices directed or authorized by the contracting officer, any property of the types referred to in subparagraph "b (6b(6)" above, provided, however, that the contractor: :
a. shall not be required to extend credit to any purchaser purchaser
b. may acquire any such property under the conditions prescribed by and at a price or prices approved by the contracting officer; and provided further that the proceeds of any such transfer or disposition shall be applied in reduction of any payments to be made by the Exchange to the contractor under this contract or shall otherwise be credited to the price or cost of the work covered by this contract or paid in such other manner as the contracting officer may direct; ;
8. complete performance of such part of the work as shall not have been terminated by the Notice of Termination; and and
9. take such action as may be necessary, or as the contracting officer may direct, for the protection and preservation of the property related to this contract which is in the possession of the contractor and in which the Exchange has or may acquire an interest. .
c) After receipt of a Notice of Termination, the contractor shall submit a termination claim to the contracting officer, in the form and with the certification prescribed by the contracting officer. Such claim shall be submitted promptly but in no event later than one year from the effective date of termination, unless one or more extensions in writing are granted by the contracting officer, upon request of the contractor made in writing within such one-year period or authorized extension thereof. However, if the contracting officer determines that the facts justify such action, the contracting officer may receive and act upon any such termination claim at any time after such one-year period of any extension thereof. Upon failure of the contractor to submit its termination claim within the time allowed, the contracting officer may determine, on the basis of information available, the amount, if any, due to the contractor by reason of the termination and shall thereupon pay to the contractor the amount so determined. .
d) Subject to the provisions of subparagraph "c, " the contractor and the contracting officer may agree upon the whole or any part of the amount or amounts to be paid to the contractor by reason of a total or partial termination of work pursuant to this clause, which amount or amounts may include a reasonable allowance for profit on work done: provided, that such agreed amount or amounts, exclusive of settlement costs, shall not exceed the total contract price as reduced by the amount of payments otherwise made and as further reduced by the contract price of work not terminated. The contract shall be amended accordingly, and the contractor shall be paid the agreed amount. Nothing in subparagraph "e" of this clause, prescribing the amount to be paid to the contractor in the event of failure of the contractor and the contracting officer to agree upon the whole amount to be paid to the contractor by reason of the termination of work pursuant to this clause, shall be deemed to limit, restrict, or otherwise determine or affect the amount or amounts which may be agreed upon to be paid to the contractor pursuant to this subparagraph "d." "
e) In the event of the failure of the contractor and the contracting officer to agree, as provided in subparagraph "d", upon the whole amount to be paid to the contractor by reason of the termination of work pursuant to this clause, the Exchange, but without duplication of any amounts agreed upon in accordance with subparagraph "d", shall pay to the contractor the following amounts: :
1. with respect to all contract work performed prior to the effective date of the Notice of Termination, the total (without duplication of any items) of: :
a. the cost of such work; except that part of the cost of work which is attributable to overhead (including bonding and insurance costs) will not exceed 12% of the total of this amount.
b. the cost of settling and paying claims arising out of the termination of work under subcontracts or orders as provided in subparagraph "b(5)" above, exclusive of the amounts paid or payable on account of supplies or materials delivered or services furnished by the subcontractor prior to the effective date of the Notice of Termination of work under this contract, which amounts shall be included in the cost on account of which payment is made under subdivision "(a)" above; and a sum, as profit on subdivision "
(a) above, equal to two percent of that part of the cost determined under subdivision "
(a) which represents the cost of articles or materials delivered to the site but not yet incorporated in the project, as of the effective date of the Notice of Termination, plus a sum equal to eight percent of the balance of the amount determined under subdivision "(a)" above, except that the total of such sums shall not exceed six percent of the total of the cost of the work as determined under "(a)" above; however, no profit shall be allowed on that part of the cost of the work, if any, that represents any charges for interest or borrowing; and finally, if it appears that the contractor would have sustained a loss on the entire contract had it been completed, no profit shall be included or allowed under this subdivision "(c)" and an appropriate adjustment shall be made reducing the amount of settlement to reflect the indicated rate of loss; and
2. the reasonable cost of preservation and protection of property incurred pursuant to subparagraph "b (9)", hereof; and any otherreasonable cost incidental to termination of work under this contract, including expense incidental to the determination of the amount due to the contractor as the result of the termination of work under this contract. The total sum to be paid to the contractor under subparagraph "e (1)" above shall not exceed the total contract price as reduced by the amount of payments otherwise made and as further reduced by the contract price of work not terminated.
3. Except for normal spoilage, and except to the extent that the Exchange shall have otherwise expressly assumed the risk of loss, there shall be excluded from the amounts payable to the contractor as provided in subparagraph "e)1", the fair value, as determined by the contracting officer, of property which is destroyed, lost, stolen or damaged so as to become undeliverable to the Exchange, or to a buyer pursuant to subparagraph "b)7".
f) The contractor shall have the right of appeal under the clause of this contract entitled "Disputes," from any determination made by the contracting officer under subparagraphs "c", "e" or "h" hereof, except that if the contractor has failed to submit a claim within the time provided in subparagraphs "c" or "h" hereof, and has failed to request extension of such time the contractor shall have no such right of appeal. In any case where the contracting officer has made a determination of the amount due under subparagraphs "c", "e" or "h" hereof, the Exchange shall pay to the contractor the following: (1) if there is no right of appeal hereunder or if no timely appeal has been taken, the amount so determined by the contracting officer; or
Appears in 1 contract
Samples: Construction Contract
Termination For Convenience of The Exchange. β
a) The performance of work under this contract may be terminated by the Exchange in accordance with this clause in whole, or from time to time in part, whenever the contracting officer shall determine that such termination is in the best interest of the Exchange. Any such termination shall be affected effected by delivery to the contractor of a Notice of Termination specifying the extent to which performance of work under the contract is terminated, and the date upon which such termination becomes effective. .
b) After receipt of a Notice of Termination, and except as otherwise directed by the contracting officer, the contractor shall: :
1. stop work under the contract on the date and to the extent specified in the Notice of Termination; ;
2. place no further orders or subcontracts for materials, services or facilities, except as may be necessary for completion of such portion of work under the contract as is not terminated; ;
3. terminate all orders and subcontracts to the extent that they relate to the performance of work terminated by the Notice of Termination; ;
4. assign to the Exchange, in the manner, at the times, and to the extent directed by the contracting officer, all of the right, title and interest of the contractor under the orders and subcontracts so terminated, in which case the Exchange shall have the right, in its discretion, to settle or pay any or all claims arising out of the termination of such orders and subcontracts; ;
5. with approval or ratification to the extent required by the Contracting Officer, settle all outstanding liabilities and termination settlement proposals arising from the termination of subcontracts; the approval or ratification will be final for purposes of this clause.
6. transfer title to and deliver to the Exchange, in the manner, at the times, and to the extent, if any, as directed by the contracting officer (a) the fabricated or unfabricated parts, work in process, completed work, supplies and other material produced as a part of, or acquired in connection with the performance of, the work terminated by the Notice of Termination, and (b) the completed or partially completed plans, drawings, information, and other property which, if the contract had been completed, would have been required to be furnished to the Exchange; ;
7. use its best efforts to sell, in the manner, at the times, to the extent, and at the price or prices directed or authorized by the contracting officer, any property of the types referred to in subparagraph "b (6b(6)" above, provided, however, that the contractor: :
a. shall not be required to extend credit to any purchaser purchaser
b. may acquire any such property under the conditions prescribed by and at a price or prices approved by the contracting officer; and provided further that the proceeds of any such transfer or disposition shall be applied in reduction of any payments to be made by the Exchange to the contractor under this contract or shall otherwise be credited to the price or cost of the work covered by this contract or paid in such other manner as the contracting officer may direct; ;
8. complete performance of such part of the work as shall not have been terminated by the Notice of Termination; and and
9. take such action as may be necessary, or as the contracting officer may direct, for the protection and preservation of the property related to this contract which is in the possession of the contractor and in which the Exchange has or may acquire an interest. .
c) After receipt of a Notice of Termination, the contractor shall submit a termination claim to the contracting officer, in the form and with the certification prescribed by the contracting officer. Such claim shall be submitted promptly but in no event later than one year from the effective date of termination, unless one or more extensions in writing are granted by the contracting officer, upon request of the contractor made in writing within such one-year period or authorized extension thereof. However, if the contracting officer determines that the facts justify such action, the contracting officer may receive and act upon any such termination claim at any time after such one-year period of any extension thereof. Upon failure of the contractor to submit its termination claim within the time allowed, the contracting officer may determine, on the basis of information available, the amount, if any, due to the contractor by reason of the termination and shall thereupon pay to the contractor the amount so determined. .
d) Subject to the provisions of subparagraph "c, " the contractor and the contracting officer may agree upon the whole or any part of the amount or amounts to be paid to the contractor by reason of a total or partial termination of work pursuant to this clause, which amount or amounts may include a reasonable allowance for profit on work done: provided, that such agreed amount or amounts, exclusive of settlement costs, shall not exceed the total contract price as reduced by the amount of payments otherwise made and as further reduced by the contract price of work not terminated. The contract shall be amended accordingly, and the contractor shall be paid the agreed amount. Nothing in subparagraph "e" of this clause, prescribing the amount to be paid to the contractor in the event of failure of the contractor and the contracting officer to agree upon the whole amount to be paid to the contractor by reason of the termination of work pursuant to this clause, shall be deemed to limit, restrict, or otherwise determine or affect the amount or amounts which may be agreed upon to be paid to the contractor pursuant to this subparagraph "d." contractor
e) In the event of the failure of the contractor and the contracting officer to agree, as provided in subparagraph "d", upon the whole amount to be paid to the contractor by reason of the termination of work pursuant to this clause, the Exchange, but without duplication of any amounts agreed upon in accordance with subparagraph "d", shall pay to the contractor the following amounts: :
1. with respect to all contract work performed prior to the effective date of the Notice of Termination, the total (without duplication of any items) of: :
a. the cost of such work; except that part of the cost of work which is attributable to overhead (including bonding and insurance costs) will not exceed 12% of the total of this amount.
b. the cost of settling and paying claims arising out of the termination of work under subcontracts or orders as provided in subparagraph "b(5)" above, exclusive of the amounts paid or payable on account of supplies or materials delivered or services furnished by the subcontractor prior to the effective date of the Notice of Termination of work under this contract, which amounts shall be included in the cost on account of which payment is made under subdivision "(a)" above; and a sum, as profit on subdivision "
(a) above, equal to two percent of that part of the cost determined under subdivision "
(a) which represents the cost of articles or materials delivered to the site but not yet incorporated in the project, as of the effective date of the Notice of Termination, plus a sum equal to eight percent of the balance of the amount determined under subdivision "(a)" above, except that the total of such sums shall not exceed six percent of the total of the cost of the work as determined under "(a)" above; however, no profit shall be allowed on that part of the cost of the work, if any, that represents any charges for interest or borrowing; and finally, if it appears that the contractor would have sustained a loss on the entire contract had it been completed, no profit shall be included or allowed under this subdivision "(c)" and an appropriate adjustment shall be made reducing the amount of settlement to reflect the indicated rate of loss; and
2. the reasonable cost of preservation and protection of property incurred pursuant to subparagraph "b (9)", hereof; and any otherreasonable cost incidental to termination of work under this contract, including expense incidental to the determination of the amount due to the contractor as the result of the termination of work under this contract. The total sum to be paid to the contractor under subparagraph "e (1)" above shall not exceed the total contract price as reduced by the amount of payments otherwise made and as further reduced by the contract price of work not terminated.
3. Except for normal spoilage, and except to the extent that the Exchange shall have otherwise expressly assumed the risk of loss, there shall be excluded from the amounts payable to the contractor as provided in subparagraph "e)1", the fair value, as determined by the contracting officer, of property which is destroyed, lost, stolen or damaged so as to become undeliverable to the Exchange, or to a buyer pursuant to subparagraph "b)7".
f) The contractor shall have the right of appeal under the clause of this contract entitled "Disputes," from any determination made by the contracting officer under subparagraphs "c", "e" or "h" hereof, except that if the contractor has failed to submit a claim within the time provided in subparagraphs "c" or "h" hereof, and has failed to request extension of such time the contractor shall have no such right of appeal. In any case where the contracting officer has made a determination of the amount due under subparagraphs "c", "e" or "h" hereof, the Exchange shall pay to the contractor the following: (1) if there is no right of appeal hereunder or if no timely appeal has been taken, the amount so determined by the contracting officer; or
Appears in 1 contract
Samples: Contract for Deca Commissary Upgrade