PNWC's Government Contracting Update

Expedited Closeout for Contracts Greater Than 17 Years

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Nearly a year ago, the Defense Department proposed a change to its FAR Supplement (DFARS or DoD FAR Supplement) that would allow contracting officers to close out contracts (or groups of contracts( without completing a reconciliation audit or other corrective action under certain circumstances (see DoD FAR Proposed Regulation to Expedite Closeout of Old Contracts). Although published as a proposed change, it followed a class deviation to FAR 4.804-5(a)(3) which effectively implemented the new policy (see Special Closeout Authority for Old Contracts).

SOURCE: Expedited Closeout for Contracts Greater Than 17 Years

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