Liquidating trust agreement and indemnification Adulti chat sesso

Posted by / 26-Jul-2017 17:20

Liquidating trust agreement and indemnification

(3) If, at any time during the progress of the work on the contract, it becomes necessary to deliver to a third person any items or materials on which the Government has a lien, the Contractor shall notify the third person of the lien and shall obtain from the third person a receipt in duplicate acknowledging the existence of the lien.The Contractor shall provide a copy of each receipt to the Contracting Officer. When the sum of all unliquidated advance payments, unpaid interest charges, and other payments equal the total estimated cost of $_____ (not including fixed-fee, if any) for the work under this contract, the Government shall withhold further payments to the Contractor.Upon completion or termination of the contract, the Government shall deduct from the amount due to the Contractor all unliquidated advance payments and interest charges payable.For the purpose of computing the interest charge— (i) Advance payments shall be considered as increasing the unliquidated balance as of the date of the advance payment check; (ii) Repayments by Contractor check shall be considered as decreasing the unliquidated balance as of the date on which the check is received by the Government authority designated by the Contracting Officer; and (iii) Liquidations by deductions from Government payments to the Contractor shall be considered as decreasing the unliquidated balance as of the date of the check for the reduced payment.(2) Interest charges resulting from the monthly computation shall be deducted from payments, other than advance payments, due the Contractor. The Contracting Officer shall revise the daily interest rate during the contract period in keeping with any changes in the cited interest rate.

Interest shall be computed at the end of each calendar month for the actual number of days involved.

(ii) A finding by the administering office that the Contractor has failed to— (A) Observe any of the conditions of the advance payment terms; (B) Comply with any material term of this contract; (C) Make progress or maintain a financial condition adequate for performance of this contract; (D) Limit inventory allocated to this contract to reasonable requirements; or (E) Avoid delinquency in payment of taxes or of the costs of performing this contract in the ordinary course of business.

(iii) The appointment of a trustee, receiver, or liquidator for all or a substantial part of the Contractor's property, or the institution of proceedings by or against the Contractor for bankruptcy, reorganization, arrangement, or liquidation. (2) If any of the events described in paragraph (h)(1) of this clause continue for 30 days after the written notice to the Contractor, the Government may take any of the following additional actions: (i) Charge interest, in the manner prescribed in paragraph (e) of this clause, on outstanding advance payments during the period of any event described in paragraph (h)(1) of this clause.

(iii) Liquidations by deductions from payments to the Contractor shall be considered as decreasing the unliquidated balance as of the dates on which the Contractor presents to the Contracting Officer full and accurate data for the preparation of each voucher.

Credits resulting from these deductions shall be made upon the approval of the reimbursement vouchers by the Disbursing Officer, based upon the Contracting Officer’s certification of the applicable dates.

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The terms of this paragraph concerning interest charges for advance payments shall not apply to the prime Contractor. If the requirement for a special account is eliminated in accordance with 32.409-3(e) or (g), insert the clause set forth below instead of the basic clause.

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