FAR 52.207-5 - Option to Purchase Equipment
Prescribed in 7.404 | |
Effective Date: | 1 February 1995 |
Clause or Provision: | Clause |
Provision or Clause Number: | 52.207-5 - Option to Purchase Equipment |
Principle Type And/Or Purpose of Contract: | |
Required: | |
Applicable: | Time and Materials/Labor Hour; Facilities; Architect-Engineering; Dismantling, Demolition or Removal of Improvements; Fixed Price, Supply; Cost Reimbursement, Supply; Communication Services; Leasing of Motor Vehicles; Time & Material/Labor Hour; Cost Reimbursement, Construction; Fixed Price, Construction; Cost Reimbursement, Service; Fixed Price, Service; Cost Reimbursement, R&D; Fixed Price, R&D; Indefinite Delivery; Transportation; Simplified Acquisition Procedures (Excludes Micro-Purchase); Utility Services |
Optional: | |
Subject: | Equipment |
ProcurementType: | |
Contract Threshold: | |
Prescription Overview: |
PrescriptionThe contracting officer shall insert a clause substantially the same as the clause in 52.207-5, Option to Purchase Equipment, in solicitations and contracts involving a lease with option to purchase. |
Clause Overview: |
Clause(a) The Government may purchase the equipment provided on a lease or rental basis under this contract. The Contracting Officer may exercise this option only by providing a unilateral modification to the Contractor. The effective date of the purchase will be specified in the unilateral modification and may be any time during the period of the contract, including any extensions thereto.
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Important Notes/Requirements: | |
Subcontract Threshold: | |
Incorporated by Reference: | Yes |
Uniform Contract Format: | I |
Editor: | Marshall |
Personal notes.