Is exercising an option a modification?

Exercising an option prior to that option's period of performance does not inherently change or modify that option's period of performance. You should never wait to exercise an option on the start date of that option's period of performance.

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Notice of Intention to Exercise Option

Nassau New York Notice of Intention to Exercise Option

Name: Nassau New York Notice of Intention to Exercise Option
Brand: US Legal Forms
Rating: 4.69 (283 reviews)

Category:

Landlord Tenant - Commercial Leases - Notices and Letters

State:

Multi-State

County:

Nassau

Control #:

US-OL24016

Format:

Instant download

Description

This office lease form states that the tenant shall exercise its option to renew this lease upon written notice given to the landlord no less than eighteen (18) months before the end of the lease term.

How to fill out Nassau New York Notice Of Intention To Exercise Option?

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FAQ

(a) Unless otherwise approved by the Chief of the Contracting Office, contracts for services employing option periods shall require that a preliminary written notice of the Government's intention to exercise the option be furnished to the Contractor a minimum of sixty (60) calendar days prior to the date for the

The option may be exercised only if funds become available within the 60-day period. In the event that sufficient funding is not available within the 60 day period, the Government waives the right to exercise the option, thereby rendering any additional requirements subject to full and open competition requirements.

(4) Files for all other contracts should be closed within 20 months of the month in which the contracting officer receives evidence of physical completion.

Normally, options are exercised using a unilateral contract modification. Whether unilateral or bilateral, the modification or other written document exercising the option must cite the option clause as the authority for the government action.

Contracting officers determine prospective contractors' responsibility prior to each contract award by considering information submitted by the contractor or otherwise acquired by the agency.

Exercising an option prior to that option's period of performance does not inherently change or modify that option's period of performance. You should never wait to exercise an option on the start date of that option's period of performance.

When using sealed bidding, the contracting officer shall make a written determination that there is a reasonable likelihood that the options will be exercised before including the provision at 52.217-5, Evaluation of Options, in the solicitation. (See 17.207(f) with regard to the exercise of options.)

The contracting officer is the U.S. Government's authorized agent for dealing with contractors and has sole authority to solicit proposals, negotiate, award, administer, modify, or terminate contracts and make related determinations and findings on behalf of the U.S. Government.

Disappointed bidders may protest by filing with the awarding agency and the PD of the DGS a written protest no later than five working days after the issuance of an intent to award. Cal.

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Nassau New York Notice of Intention to Exercise Option

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How to fill out Nassau New York Notice Of Intention To Exercise Option?

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FAQ

What is the cutoff date for providing the contractor your written intent to exercise the option?

When can a contract option be exercised?

What are the time standards for closing out contract files?

What must you reference in the contract modification to exercise the option as the authority for the action?

What step can a contracting officer take to determine the responsibility of a prospective contractor?

Is exercising an option a modification?

What must you reference in the contract modification to exercise the option has the authority for the action?

What determinations must the contracting officer make prior to exercising an option?

What are the contracting officer's responsibilities?

How many days does the contractor have after the award to file a protest to the agency?

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