Closeout & Post-Performance : Contract Closeout

Contract Closeout

Contract closeout is similar to administrative closeout in that it involves both product verification (was all work completed correctly and satisfactorily?) and administrative closeout (updating records to reflect final results and archiving of such information for future use). The contract terms and conditions may prescribe specific procedures for contract closeout. Early termination of a contract is a special case of contract closeout.

You close out the contract when the consultant has completed the final deliverables and Caltrans has formally inspected the work. Once all task orders covered by a single contract are completed, the contract can be closed out. A completed task order is one in which all deliverables have been completed satisfactorily and according to the terms of the task order.