Release of excess funds under terminated contracts.

Federal Acquisition Regulations System 1 2023-10-01 2023-10-01 false Release of excess funds under terminated contracts. 49.604 Section 49.604 Federal Acquisition Regulations System FEDERAL ACQUISITION REGULATION CONTRACT MANAGEMENT TERMINATION OF CONTRACTS Contract Termination Forms and Formats 49.604 Release of excess funds under terminated contracts. The following format shall be used to recommend the release of excess funds under terminated contracts, except if the contracting office retains responsibility for settlement of the termination: FROM: Termination Contracting Officer ______ [address] TO: Contracting office ________ [address] SUBJ: Terminated Contract No. ____ with ____ [Contractor] Refs: (a) [ Cite termination notice and effective date. ] (b) [ Cite prior letters releasing excess funds, if any. ] 1. Referenced termination notice, ______ [ insert “completely” or “partially”] terminated contract ______. 2. Based on the best information available, it is estimated that the gross settlement cost will be $____________. The amount available for release as excess to the contract is $____________. Any payments previously made to the Contractor for terminated items have been considered in arriving at the above amounts. [ If prior letters recommending release of excess funds are cited, use the following as paragraph 2: “The estimated settlement costs previously reported by reference (b) in the amount of $____________ are revised. On the best evidence now available, it is estimated that the settlement costs will be $____________. The additional amount available for release is $____________”.] 3. The related appropriations and amounts involved are: Appropriations Allocated Amounts   Copies to: Paying Office Accounting and Finance Office Other