Difference between revisions of "Novation Agreement - Definition"
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*(3) Government, and, by which, among other things, the transferor guarantees performance of the contract, the transferee assumes all obligations under the contract, and the Government recognizes the transfer of the contract and related assets in accordance with FAR 2.1.<ref>DCMA INST 132, March 20, 2014</ref> | *(3) Government, and, by which, among other things, the transferor guarantees performance of the contract, the transferee assumes all obligations under the contract, and the Government recognizes the transfer of the contract and related assets in accordance with FAR 2.1.<ref>DCMA INST 132, March 20, 2014</ref> | ||
| + | ==Related Information== | ||
| + | For background related to novations, the reason they are needed and more on the Anti-Assignment Act, see in the Category: Novations. | ||
==References== | ==References== | ||
<References/> | <References/> | ||
Revision as of 14:29, 6 November 2014
Novation Agreement
A legal instrument executed by
- (1) Contractor (transferor),
- (2) Successor in interest (transferee), and
- (3) Government, and, by which, among other things, the transferor guarantees performance of the contract, the transferee assumes all obligations under the contract, and the Government recognizes the transfer of the contract and related assets in accordance with FAR 2.1.[1]
Related Information
For background related to novations, the reason they are needed and more on the Anti-Assignment Act, see in the Category: Novations.
References
- ↑ DCMA INST 132, March 20, 2014
