Difference between revisions of "Adverse Contract Action Notification Policy"
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Latest revision as of 16:28, 4 October 2022
Policy
In order to timely and effectively manage actual or threatened adverse contract action(s) by a customer on a contract with a GovC International subsidiary corporation, all such actions must be reported to the corporate office immediately.
Applicability
This policy applies to all employees of GovC and all GovC subsidiaries.
Guidelines
Upon receipt of notification of an adverse contract action (whether verbal or written), the recipient shall immediately communicate such notification to the Chief Executive Officer, the Chief Financial Officer and the General Counsel. The term “adverse contract action(s)” shall include the following:
- a. Notice of requirement to cure alleged default or breach of contract;
- b. Notice of intent to terminate contract for default or notice of termination of contract for default;
- c. Notice of intent to terminate contract for convenience or notice of termination of contract for convenience;
- d. Knowledge about an IG investigation; or
- e. Any comparable contract actions or investigation.
