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متابعة

What does contract close out contain?

A. All of the other alternatives apply

B. Formal acceptance and closure

C. Procurement audits

D. Contract documentation

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تم إضافة السؤال من قبل Muhammad Farooq , QA-QC MANAGER , AL Bawani contracting co.
تاريخ النشر: 2016/07/16
Khalid shaikh
من قبل Khalid shaikh , Procurement Specialist-(CAPEX, OPEX, MRO spares, Contracts & Shipping management) , Al khalij cement company

Option B. Moreover always add contract periodic review and performance check followed by corrective actions

Ahilan R
من قبل Ahilan R , Scientific Assistant-D , Nuclear Power Corporation of India Ltd (NPCIL)

A. All of the other alternatives apply for close out of contract

ACHMAD SURJANI
من قبل ACHMAD SURJANI , General Manager Operations , Sinar Jaya Group Ltd

The contract close-out process is usually a simple but detailed administrative procedure. The purpose is to verify that both parties to the contract have fulfilled their contractual obligations and there are not responsibilities remaining. In addition, contract close-out is the time to assess the success of the contract and determine if there are any lessons learned for future contracting.A contract is completed when all goods or services have been received and accepted; all reports have been delivered and accepted; all administrative actions have been accomplished; all agency furnished equipment and material have been returned; and final payment has beenmade to the contractor. To initiate the close-out process, the agency should first determine that the contractor hassatisfactorily performed all required contractual  obligations. A contract is ready for close out when:•All deliverables, including reports have been delivered and accepted by the agency. Contract managers shouldcompare actual performance against performance measures, goals and objectives to determine whether all required work has been completed;•Final payment has been made;•All monitoring issues have been resolved;•All property inventory and ownership issuesare resolved including disposition of anyequipment or licenses purchased under the contract;•Final acceptance from the Project Manager has been received (if applicable);•Contractor is aware of and in compliance with records retention requirements and aplan has been developed for contract file maintenance; and•Any deficiencies found as part of the closeout process are documented and communicated to all appropriate parties.REPORTINGVENDORPERFORMANCE

Upon completion or termination of a contract, and as part of the close-out process, each stateagency must review the vendor’s performance and report the results of the review to theComptroller using the VPTS.COMPTROLLER EVALUATIONUsing the information provided through the VPTS, the Comptroller evaluates the vendor’sperformance. The Comptroller will rate the vendor on an A through F scale with A being thehighest grade. If a vendor receives a grade lower than a C they may protest this classificationto the Comptroller.A state agency is required to use the vendor performance tracking system to determine whetherto award a contract to a vendor reviewed in the tracking system. The comptroller will determinehow the rating scale affects a vendor’s eligibility for state contracts and the grades on the scalethat disqualify a vendor from state contracting.

Arvind Kumar Yadav
من قبل Arvind Kumar Yadav , Assistant Manager Technical , Aristocrat India pvt Ltd

A. All of the other alternatives apply

 

This documents contains ( administrative closure)

-Project schedule 

-Contract change request- accepted or declined

_Seller related documents procurement close out

- Finacial documents invoice and payment records

-Results of contract and inspection

- Lession learn

 

Abu Bakar Siddique
من قبل Abu Bakar Siddique , Procurement / Purchase Executive , Younone sports shoes Ind. LTD.

A. All of the other alternatives apply

Mohamed Helal
من قبل Mohamed Helal , Project Manager , GROUP CONSULT INTERNATIONAL

A. All of the other alternatives apply........................

mostafa reda
من قبل mostafa reda , Warehouse & Inventory contro Senior Specialist , Etisalat Egypt

Ability to renew the old one with determine period accepted from all partners

Abdul Rehman
من قبل Abdul Rehman , Electrical Engineer , Tamdeed Projects

My answer is option A. All of the other alternatives apply

Ksenija Kancelak
من قبل Ksenija Kancelak , Construction Project Manager , City of Koprivnica, Koprivnica (Croatia)

My opinion is that the right answer is A

Ameen Dahan
من قبل Ameen Dahan , Contract Engineer , YemenLNG TOTAL

It contains,,

 

- Performance report duirngthe contract period.

- Claims if any.

- Change order andamendments,

-Closure Report for the over all process.

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