This text is not in eCFR or DITA. It is extracted from the Revolutionary FAR Overhaul deviation guide for FAR Part 4. The parsed text is a convenience layer; the Source PDF tab is authoritative. Always verify against the official deviation PDF.
As prescribed in 204.308-70. See the Prescription tab for the prescribing policy text.
Expediting Contract Closeout
- (a) At the conclusion of all applicable closeout requirements of Federal Acquisition Regulation 4.308, the Government and Contractor shall mutually agree on the residual dollar amount remaining on the contract. Both the Government and Contractor agree to waive payment of any residual dollar amount of $1,000 or less to which either party may be entitled at the time of contract closeout.
- (b) A residual dollar amount includes all money owed to either party at the end of the contract and as a result of the contract, excluding amounts connected in any way with taxation or a violation of law or regulation.
- (c) For purposes of determining residual dollar amounts, offsets (e.g., across multiple contracts or orders) may be considered only to the extent permitted by law.
Prescription: 204.308-70 Contract clause
As prescribed in 204.308-70. Scope applicability here before applying the clause.
Insert the clause at 252.204-7022, Expediting Contract Closeout, in solicitations and contracts, including solicitations and contracts using FAR part 12 procedures for the acquisition of commercial products and commercial services, when the contracting officer intends to expedite contract closeout through the mutual waiver of entitlement to a residual dollar amount of $1,000 or less determined at the time of contract closeout.
Version history
One version on record, first captured 2026-06-11 15:46:08, effective February 17, 2026.
Prescription: 204.308-70
Prescribing text cropped from the same deviation PDF.
Clause text (page 25)
Rendered from the deviation PDF. Open the full PDF.
