Federal activity overview — FAR 52.249-2: Termination for Convenience of the Government (Fixed-Price)
Federal form · U.S. General Services Administration (Standard Form)
Provides the government's right to terminate a fixed-price contract for convenience at any time. Upon termination, the contractor is entitled to payment for completed work, costs incurred for work in progress, and a reasonable profit on work performed. The contractor must submit a termination settlement proposal.
Contractors use FAR 52.249-2 procedures when the government terminates their contract for convenience, preparing settlement proposals that document costs incurred and profit on completed work.
Reference record · Sources: U.S. General Services Administration (Standard Form) · Covers what it is, when it is used
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FAR 52.249-2: Termination for Convenience of the Government (Fixed-Price) Government Contracts & Federal Records
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is federal form FAR 52.249-2 (Termination for Convenience of the Government (Fixed-Price)). Provides the government's right to terminate a fixed-price contract for convenience at any time. Upon termination, the contractor is entitled to payment for completed work, costs incurred for work in progress, and a reasonable profit on work performed. The contractor must submit a termination settlement proposal.
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Ask about FAR 52.249-2Contractors use FAR 52.249-2 procedures when the government terminates their contract for convenience, preparing settlement proposals that document costs incurred and profit on completed work.
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