Property closeout Sample Clauses
The Property Closeout clause outlines the procedures and responsibilities for finalizing all matters related to property at the conclusion of a contract or project. It typically requires the return of any leased or borrowed property, the removal of contractor equipment, and the resolution of outstanding property-related obligations. For example, a contractor may need to return keys, clear out temporary structures, and provide documentation confirming the condition of returned items. This clause ensures that all property is properly accounted for and returned, preventing disputes and clarifying the end-of-project obligations for both parties.
Property closeout. The Contractor shall promptly perform and report to the Property Administrator contract property closeout, to include reporting, investigating and securing closure of all loss of Government property cases; physically inventorying all property upon termination or completion of this contract; and disposing of items at the time they are determined to be excess to contractual needs.
Property closeout. The Contractor shall promptly perform and report to the City Manager Contract Property closeout, to include: reporting, investigating and securing closure of all loss, theft, damage or destruction cases; physically inventorying all Property upon termination or completion of this Contract; and disposing of items at the time they are determined to be excess to Contract needs.
Property closeout. (1) Seller shall promptly perform property closeout after Order completion or termination, including reporting, investigating and securing closure of all loss, damage, destruction, or theft cases and physically inventorying all property.
(2) Seller shall submit inventory disposal schedules to Buyer no later than (a) 30 days following Seller’s determination that a Customer property item is no longer required for performance of the Order; and (b) 60 days following completion or termination of the Order.
Property closeout. The Supplier shall promptly perform and report to the Property Administrator purchase order property closeout, to include reporting, investigating and securing closure of all loss, theft, damage or destruction cases; physically inventorying all property upon termination or completion of this purchase order; and disposing of items at the time they are determined to be excess to contractual needs.