Contract Administration Flashcards
7 cards from real Government Procurement Certification practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.
Read the first 7 Contract Administration flashcards as text
Which document formally authorizes a contractor to begin work before a contract is fully executed?
Answer: Letter Contract (Undefinitized Contract Action)
A Letter Contract (Undefinitized Contract Action) is a preliminary contractual instrument that authorizes immediate work while final terms are being negotiated.
Under FAR Part 49, what is the primary purpose of a termination for convenience settlement?
Answer: To fairly compensate the contractor for allowable costs and a reasonable profit on work performed
Termination for convenience settlements aim to fairly compensate contractors for allowable incurred costs plus a reasonable profit on completed work.
What is a 'Contractor's Release of Claims' in the context of contract closeout?
Answer: A contractor statement relinquishing further financial claims against the government under the contract
A Release of Claims is a contractor's written statement surrendering any remaining financial claims against the government in exchange for final payment.
Which type of contract clause allows the government to adjust prices when actual material costs differ significantly from estimates?
Answer: Economic Price Adjustment clause
Economic Price Adjustment clauses permit upward or downward contract price adjustments tied to established indexes or actual material cost changes.
What is the significance of a 'Cure Notice' under FAR 49.607?
Answer: It gives the contractor a specified period to correct a condition endangering contract performance before a termination for default
A Cure Notice gives the contractor a minimum of 10 days to cure conditions that are endangering contract performance before the government terminates for default.
Under what circumstance may the government convert a termination for default to a termination for convenience?
Answer: When it is determined the default was excusable due to causes beyond the contractor's control
If facts emerge showing the contractor's failure was excusable (e.g., acts of God, government-caused delays), the government must convert the termination to one for convenience.
Which FAR clause is typically used to incorporate ethical standards and require contractors to display the fraud hotline poster?
Answer: FAR 52.203-13, Contractor Code of Business Ethics and Conduct
FAR 52.203-13 requires contractors meeting threshold criteria to maintain a written code of business ethics and display an agency fraud hotline poster.