What does contract close out contain?

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

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.

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

A. All of the other alternatives apply

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

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

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

My opinion is that the right answer is A

It contains,,

- Performance report duirngthe contract period.

- Claims if any.

- Change order andamendments,

-Closure Report for the over all process.