Notice to all Nuclear Regulatory Commission (NRC) Contractors – EXPEDITED CONTRACT CLOSEOUT – FIXED PRICE, LABOR HOUR AND TIME AND MATERIALS CONTRACTS

This is a Special Notice to all Nuclear Regulatory Commission (NRC) Contractors. The NRC has established an automated and streamlined process to allow the agency to prioritize and manage the backlog of actions that comprise the largest percentage of physically completed fixed price, labor hour and time and materials contracts awaiting close-out in an efficient and cost effective manner. If an unliquidated balance of funds of $10,000 or less remain on the contract when the contract is deemed physically completed under FAR 4.804-4 and all Contractor invoices for the supplies or services have been paid, the Contracting Officer will issue a unilateral modification deobligating the remaining excess balance of funds and closing out the contract. The Contractor will receive a copy of the modification but will not be required to provide a signature. Contract closeout under this process does not change the contractual rights or obligations of either party. After the excess funds are deobligated and the contract is closed out, the NRC remains obligated to pay any amounts subsequently identified as being due the Contractor under the terms of the contract, and the Contractor is obligated to refund any amounts subsequently identified as having been overpaid. Please contact your Contracting Officer immediately with any questions or requests for clarification.