FAR -- Part 17 Special Contracting Methods. Multi-Year Contracts, Options, and Leader Company Contracting. Definitions. Cancellation Means the cancellation (within a contractually specified time) of the total requirements of all remaining program years.
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Multi-Year Contracts, Options, and Leader Company Contracting
Subpart 17.200, Does not apply to Contracts for:
Use of Options
If the offering of an option at prices no higher than those for the initial requirement are specified
Exercise of Options
Procedures - Leader Company Contracting
-Satisfies the requesting agency\'s schedule, performance, and delivery requirements (taking into account factors such as the servicing agency\'s authority, experience, and expertise as well as customer satisfaction with the servicing agency\'s past performance);
-Is cost effective (taking into account the reasonableness of the servicing agency\'s fees); and
-Will result in the use of funds in accordance with appropriation limitations and compliance with the requesting agency\'s laws and policies.
Requirements for Determination and Findings
The requesting agency shall follow the procedures in 17.502-1 and, if under the Economy Act, also 17.502-2.
This subpart Policies and procedures for management and operating contracts for the Department of Energy and any other agency having requisite statutory authority.