Examples of Loss of Government property in a sentence

Loss of Government property does not include occurrences such as purposeful destructive testing, obsolescence, normal wear and tear, or manufacturing defects.
Loss of Government property does not include purposeful destructive testing, obsolescence, normal wear and tear or manufacturing defects.
Loss of Government property that is the result of willful misconduct or lack of good faith on the part of the Contractor's managerial personnel.
Loss of Government property that is the result of willful misconduct or lack of good faith on the part of the Contractor’s managerial personnel.
Loss of Government property does not include purposeful destructive testing, obsolescence, normal wear and tear, or manufacturing defects.

More Definitions of Loss of Government property

Loss of Government property means unintended, unforeseen, or accidental loss, damage, or destruction of Government property that reduces the Government’s

Loss of Government property means unintended loss of or damage to Government property including property that cannot be found after a reasonable search, loss due to inadequate storage, loss due to lack of security, theft, damage requiring repair to restore the item to usable condition, or damage that renders the property useless for its intended purpose or Beyond Economical Repair (BER). Loss of Government property does not include manufacturing defects, obsolescence, normal wear and tear, or purposeful destructive testing. Unless otherwise stated in the contract/task order, loss of Government property does not include normal and reasonable inventory adjustments, i.e., losses of low priority consumable material, such as common hardware, as agreed to by the Contractor and the Government Property Administrator. Reporting Loss of Government Property

Loss of Government property means unintended, unforeseen or accidental loss, damage or destruction to Government property that reduces the Government’s expected economic benefits of the property. Loss of Government property does not include purposeful destructive testing, obsolescence, normal wear and tear or manufacturing defects. Loss of Government property includes, but is not limited to— (1) Items that cannot be found after a reasonable search: (2) Theft: (3) Damage resulting in unexpected harm to property requiring repair to restore the item to usable condition; or (4) Destruction resulting from incidents that render the item useless for its intended purpose or beyond economical repair. “Material” means property that may be consumed or expended during the performance of a contract, component parts of a higher assembly, or items that lose their individual identity through incorporation into an end item. Material does not include equipment, special tooling, special test equipment or real property. “Nonseverable” means property that cannot be removed after construction or installation without substantial loss of value or damage to the installed property or to the premises where installed. “Precious metals” means silver, gold, platinum, palladium, iridium, osmium, rhodium, and ruthenium. “Production scrap” means unusable material resulting from production, engineering, operations and maintenance, repair, and research and development contract activities. Production scrap may have value when re-melted or reprocessed, e.g., textile and metal clippings, borings, and faulty castings and forgings. “Property” means all tangible property, both real and personal. “Property Administrator” means an authorized representative of the Contracting Officer appointed in accordance with agency procedures, responsible for administering the contract requirements and obligations relating to Government property in the possession of a Contractor. “Property records” means the records created and maintained by the contractor in support of its stewardship responsibilities for the management of Government property. “Provide” means to furnish, as in Government-furnished property, or to acquire, as in contractor-acquired property. “Real property” See Federal Management Regulation 102-71.20 (41 CFR 102-71.20). CONTINUED ON NEXT PAGE

Loss of Government property means the loss, damage or destruction to Government Property reducing the Government’s expected economic benefits of the property and includes loss of accountability but does not include planned and purposeful destructive testing, obsolescence, normal wear and tear or manufacturing defects. THE AWARDEE SHALL ONLY BE LIABLE FOR LOSS OF GOVERNMENT PROPERTY WHEN (1) THE RISK IS COVERED BY INSURANCE OR OTHERWISE REIMBURSED, OR (2) THE LOSS IS THE RESULT OF WILLFUL MISCONDUCT OR LACK OF GOOD FAITH ON THE PART OF THE AWARDEE’S MANAGERIAL PERSONNEL. The Awardee shall take all reasonable actions necessary to protect the property from further loss, and shall do nothing to prejudice the Government's rights to recover against third parties for any loss of Government property. W911QY2090012 P00005 Section SF 30 - BLOCK 14 CONTINUATION PAGE P 00001

Loss of Government property means unintended, unforeseen or accidental loss, damage or destruction to Government property that reduces the Government’s expected economic benefits of the property.

Loss of Government property definition

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