Get Contract Closeout Template

What is Project Closeout? Project closeout is the final construction phase of the project lifecycle. It is the collecting of final project documents (sometimes referred to as project deliverables), assembling them into a package, and ultimately presenting that package to the client that requested the project be built.

Once the procuring or administrative contracting officer confirms that all receivables have been delivered/completed (often with the assistance of a contracting officer representative), the contracting officer begins the closeout process.

Investigate, resolve the discrepancy, deobligate the funds and close the contract.

Manual Contract Closeout is the process by which the Contracting Officer responsible for closeout, upon receiving notice of physical completion of the contract, begins a review of the contract requirements and funds status.

The Contracting Officer creates a Closeout Checklist (DD Form 1597) (if the contract is over the Simplified Acquisition Threshold), to document satisfactory completion of all required contract actions prior to closeout.

Contract Closeout Checklist Issue interim contract completion statement. Ensure disposition of classified material is completed. Receive final patent/royalty report clearance. Ensure there are no outstanding value engineering change proposals. Ensure property clearance is recorded in MOCAS.

A Contract Closeout occurs when a contract has. met all the terms of a contract and all administrative. actions have been completed, all disputes settled, and final payment has been made.

Below is the checklist for administrative actions that are required to close out a contract that has met all its terms and conditions. Issue interim contract completion statement. Ensure disposition of classified material is completed. Receive final patent/royalty report clearance.