Does this clause apply to all items over $5,000.00, or just for GFP/GFE?
The prescription states that this clause is used in contracts that require item identification or valuation in accordance with the DoD policy outlined at DFARS 211.274-2 and -3. And yes, DoD's policy does require item unique identification on all delivered items (including commercial) over $5,000. But be aware, that the policy also outlines criteria where item unique identification is required below the $5,000 threshold and the exceptions when it wouldn't be required at all.
Open full Question Details
The Government Property component of your question is relevant in those contracts where a Contractor Acquires Property (CAP) in the performance of the contract and the Government pays for it. It is legally Government Property and will need to have item unique identification upon delivery to the Government as well.