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  • Question

    In a situation where a vendor changes their name & Tax ID , thus creating a new legal entity, which agreement is applicable? A novation agreement or a change of name agreement?


    Answer

    It appears from the information provided there is no transfer of assets and a third party is not being created. Thus, FAR 42.1205-- Agreement to Recognize Contractors Change of Name would apply rather than 42.1204--Applicability of Novation Agreements. However, because this is a strictly legal matter you should consult with your organization's legal counsel for confirmation.

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