It doesn’t happen frequently but contractor bankruptcy happens often enough to warrant a special contract clause that appears in every contract above the simplified acquisition threshold (currently set at $150 thousand). The Bankruptcy clause is found at FAR (Federal Acquisition Regulations) 52.242-13. and requires contractors entering into proceedings relating to bankruptcy, whether voluntary or involuntary, to furnish by certified mail (or electronic commerce method authorized by contract), written notification to the contracting officer responsible for administering the contract.
Source: PNWC’s Government Contracting Update: What Happens When a Contractor Files for Bankruptcy?
New Regulation Formalizes Ombudsman Practice and Identity for IDIQ Contracts
An ‘ombudsman’ is an official charged with addressing and/or investigating the interests of individuals’ or companies’
