contract termination

contract termination

Defense procurement: the cessation or cancellation, in whole or in part, of work under a prime contract or a subcontract thereunder for the convenience of, or at the option of, the government, or due to failure of the contractor to perform in accordance with the terms of the contract (default).
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As funding allows however, in the event that prior to the contract termination the County is awarded additional grants that will allow it to continue the inpatient/residential treatment services beyond the anticipated contract termination date, the contract will allow the parties to extend the initial contract term for two (2) additional one (1) year extension terms.
In his letter to stakeholders, Specia said Providence's contract termination would take place during a 30-day transition period that will begin immediately, but he said foster care services would not be interrupted.
In addition, the contract termination by a Russian wholesale partner led to serious liquidity bottlenecks last year.
On the day of the contract termination, unidentified armed men attempted to assassinate Badeeb in Khoor Maksar, in Aden, while en route to the port on official business.
Unaware of the reason behind the contract termination, he said a new agreement would be assigned in the next solar year.
Those that cannot improve will face lower supply volumes, and then contract termination.
To address this perception, GAO examined (1) how expected contract termination costs and other factors affect DOD decisions on whether to end programs and contracts; (2) the circumstances under which it would cost more to terminate a contract for convenience than to complete it; and (3) the options DOD has for retaining value or reducing costs, when DOD ends programs or contracts.
They should always leave the opportunity for contract termination with cause.
Then they need to structure the agreement to mitigate their risks with respect to budget, service, market competitiveness and contract termination.
Proposed change relocates text on termination of Canadian Commercial Corporation contracts, from Part 225, Foreign Acquisition, to a more appropriate location in Part 249, Termination of Contracts; deletes unnecessary cross-references; and relocates to PGI, procedures for preparation of contract termination status reports, for completion of forms to document termination settlements, for preparation of settlement negotiation memoranda, and for congressional notification of significant contract terminations.
The City Council also voted late Tuesday for a contract termination agreement that gives Gatch more than $490,000 in salary and accrued leave in exchange for his promise not to sue the city.
Contractual termination clause: Payments required by an employment contract termination clause usually represent anticipated earnings and are wages.