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Loss Ratio Applied To Termination Settlement Termination-convenience

Saturday, July 09, 2005 03:19 pm


The Armed Services Board of Contract Appeals has ruled that when a contractor was in a loss position at the time of a termination for convenience, the loss ratio was determined by dividing the contract price by actual performance costs plus the estimated cost of completion. The contractor was only entitled to recover that percentage of its performance costs.

The Army Corps of Engineers awarded a contract to Alfair Develop [...]

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