(a) This subpart deals with-
(1) The authority and responsibility of contracting officers to terminate contracts in whole or in part for the convenience of the Government or for default;
(2) Duties of the contractor and the contracting officer after issuance of the notice of termination;
(3) General procedures for the settlement of terminated contracts; and
(4) Settlement agreements.
(b) Additional principles applicable to the termination for convenience and settlement of fixed-price and cost-reimbursement contracts are included in Subparts 49.2 and 49.3. Additional principles applicable to the termination of contracts for default are included in Subpart 49.4.
