Is there a provision to close the Base Year by a Release of Claims?
There is no release of claims required for FFP contracts. In FAR 4.804-5(a)(13) there is guidance that requires us to get from the contractor a closing statement. However, the only language that mentions "release of claims" as part of the closeout process is in FAR 52.216-7 Allowable Cost and Payment, and that only pertains to cost contracts. The only FP clause that mentions release of claims is FAR 52.232-5, Fixed Price Construction. The FAR is silent for all other types of fixed price contracts.
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