48 CFR §570.308

1. (a)Make award to the responsible offeror whose proposal represents the best value after evaluation in accordance with the factors and subfactors in the SFO.
2. (b)Make award in writing and in the timeframe specified in the SFO.
   1. (1)If the contracting officer cannot make an award in that time, request in writing from each offeror an extension of the acceptance period through a specific date.
   2. (2)If time is critical, the contracting officer may request the extensions orally. The contracting officer must make a record of the request and confirm it promptly in writing.
3. (c)Notify unsuccessful offerors in writing or electronically in accordance with FAR 15.501 and 15.503(b).
4. (d)The source selection authority may reject all proposals received in response to an SFO, if doing so is in the best interest of the Government.