Section 5-D125. EXCERCISING THE CONTRACT OPTIONS

 

125.1The Contracting Officer may exercise a contract option upon determining that: 

 

(a)Funds are available and authorized for this purpose;

 

(b)The goods or services covered by the option fulfill an existing need; and

 

(c)Exercising the option is the most advantageous method of fulfilling the Office’s need. 

 

125.2The determination to exercise a contract option shall be in writing and shall be included in the contract file. 

 

125.3To exercise an option over one hundred thousand dollars ($100,000) the Contracting Officer must first obtain the approval of the CCO.

 

125.4In addition to the approval of the CCO (if applicable), prior to exercising any option, the approval of the Office’s Chief Financial Officer shall be obtained as to whether funds are available for the exercise of the option.

 

authority

The Director of the Office of Public Education Facilities Modernization, pursuant to section 702(b) of the District of Columbia Public Education Reform Amendment Act of 2007 (Act), effective June 12, 2007 (D.C. Law 17-9; D.C. Official Code § 38-451(b)) (2007 Supp.).

source

Notice of Emergency and Proposed Rulemaking published at 57 DCR 8514 (September 17, 2010)[EXPIRED]; as amended by Notice of Final Rulemaking published at 57 DCR 11189, 11212 (November 26, 2010).