1534-Contract Closeout

Question 1

What does timely contract closeout allow?

Answer 1

Deobligating excess funds

Identifies need for additional funds

Allows affected activities to concentrate on current and future requirements

Question 2

What are the Basic Contract Closeout Steps?

Answer 2

Government accepts final delivery
Government inputs final DD250 or SF1449
Validation of quantity ordered & delivered
Reconciliation between ordered and delivered items
Perform initial review and remove excess funds
Initiate DD Form 1597 and accomplish actions

Question 3

What is a contract closeout checklist?

Answer 3

DD Form 1597

Question 4

What is the DD 1594?

Answer 4

Contract Completion Statement