Common use of Availability of Funds for the Next Fiscal Year Clause in Contracts

Availability of Funds for the Next Fiscal Year. a. Funds are not guaranteed for performance under this Contract beyond the current fiscal year that ends on June 30th. WMATA's obligation for performance of this Contract beyond that date is contingent upon the availability of funds from which payment for Contract purposes can be made. WMATA's legal liability for any payment cannot arise for performance under this Contract until funds are made available to the Contracting Officer for performance and until he or she notifies the Contractor of the availability in writing. Any option exercised by WMATA that will be performed, in whole or in part, in a subsequent fiscal year is subject to availability of funds in that year and will be governed by the terms of this article.

Availability of Funds for the Next Fiscal Year. a. Funds are not guaranteed for performance under this Contract beyond the current fiscal year that ends on June 30th. WMATA's obligation for performance of this Contract beyond that date is contingent upon the availability of funds from which payment for Contract purposes can be made. WMATA's legal liability for any payment cannot arise for performance under this Contract until funds are made available to the Contracting Officer for performance and until he or she notifies the Contractor of the availability in writing. Any option exercised by WMATA that will be performed, in whole or in part, in a subsequent fiscal year is subject to availability of funds in that year and will be governed by the terms of this articleclause.