48 CFR § 517.207
Exercise of options
November 17, 2020
In addition to the requirements of FAR 17.207, the Contracting Officer must also:
(a) Document the contract file with the rationale for an extended contractual relationship if the contractor's performance rating under the contract is less than satisfactory.
(b) Determine that the option price is fair and reasonable.
[81 FR 36423, June 6, 2016]
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