49.604  Release of excess funds under terminated contracts.

The following format shall be used to recommend the release of excess funds under terminated contracts, except if the contracting office retains responsibility for settlement of the termination:

FROM: Termination Contracting Officer _________ [address]

To: Contracting office _________ [address]

SUBJ: Terminated Contract No _________ with __________

[Contractor]

Refs:

(a)  [Cite termination notice and effective date.]

(b)  [Cite prior letters releasing excess funds, if any.]

(1)  Referenced termination notice, ____ [insert "completely" or "partially"] terminated contract ____________ .

(2)  Based on the best information available, it is estimated that the gross settlement cost will be $ ____________ The amount available for release as excess to the contract is $______. Any payments previously made to the Contractor for terminated items have been considered in arriving at the above amounts.

[If prior letters recommending release of excess funds are cited, use the following as paragraph 2:

The estimated settlement costs previously reported by reference (b) in the amount of $____ are revised. On the best evidence now available, it is estimated that the settlement costs will be $___ The additional amount available for release is $ ____________ .]

(3)  The related appropriations and amounts involved are:

Copies to:
Paying Office
Accounting and Finance Office
Other