The Administrative Contracting Officer (“ACO”) is responsible for initiating the administrative closeout of the contract after receiving evidence that the contract is physically complete. FAR 4.804-4 defines “complete” as
when the contractor has completed the required deliverables and the Government has inspected and accepted the supplies, or the services to be provided have been completed and all option provisions, if any, have expired. In today’s environment, it is in the best interest of a contractor to be proactive in this regard. Government contract auditors generally have caught up from their backlog of many years of incomplete incurred cost audits. As such, ACOs are under pressure to settle the direct costs questioned and to negotiate/finalize the indirect cost rates.
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