Closeout Data Clause Samples
The Closeout Data clause defines the requirements and procedures for providing essential information needed to finalize or settle outstanding obligations when a contract or transaction is terminated. Typically, this clause specifies the type of data that must be delivered, such as transaction records, pricing information, or calculation details, and sets deadlines for its provision. By ensuring that all necessary data is exchanged promptly and accurately, the clause facilitates a smooth and transparent closeout process, minimizing disputes and enabling parties to determine final settlement amounts efficiently.
Closeout Data. The Contractor shall submit task order close-out data quarterly following the expiration of a task order. This shall be accomplished for each and every task order. This data shall include:
1. Final Task Order Dollar Value
2. Cumulative Invoiced Amount
3. Total CAF Amount Paid
4. CAF Balance Owed
5. Final Invoice Paid (Y/N) 6. Release of Claims Date 7. Pending Actions Preventing Close-out
Closeout Data. The Contractor agrees to close out orders and contracts on a timely basis and in coordination with the various agency OCO’s and the BMO Contracting Officer.