Common use of Termination for Cause and Convenience Clause in Contracts

Termination for Cause and Convenience. For all contracts in excess of $10,000, as detailed within Clauses No. 32 and 34 of Appendix No. 1, General Conditions for Construction Contracts – Public Housing Programs, each as applicable and each attached hereto. In addition to the immediate-foregoing, if the Agency terminates the Contractor for convenience, the Agency is obligated to, as detailed within Section 11.6.C.2 of HUD Procurement Handbook 7460.8 REV 2, negotiate with and pay to the Contractor a “reasonable allowance for profit” for the remainder of the contracted period.

Termination for Cause and Convenience. For all contracts in excess of $10,000, as detailed within Clauses Clause No. 32 and 34 of Contract Appendix No. 1, form HUD-5370 (1/2014), General Conditions for Construction Contracts – Public Housing Programs, each as applicable and each attached hereto. In addition to the immediate-foregoing, if the Agency terminates the Contractor for convenience, the Agency is obligated to, as detailed within Section 11.6.C.2 of HUD Procurement Handbook 7460.8 REV 2, negotiate with and pay to the Contractor a “reasonable allowance for profit” for the remainder of the contracted period.