Common use of GOVERNMENT PROPERTY ISSUED TO CONTRACTORS Clause in Contracts

GOVERNMENT PROPERTY ISSUED TO CONTRACTORS. (a) If the Buyer issues to the Seller any government-owned material, components, instruments, etc., whether such issues are on loan or repayment, the Seller shall account for all such issues (including arisings therefrom) and shall maintain complete records of receipt and use or disposal. The Buyer may determine the form of the records and the extent of the information to be recorded therein and may require the Seller to comply with an approved stock recording scheme.