What is the difference between a contract award and a contract release?

A contract award is an agreement between a government agency and a vendor or contractor to perform a specific job or provide a service. It generally includes details of the job that must be met as well as the contractor’s responsibilities and payment terms. A contract release is a formal document signed by the government agency to officially terminate a contract. The release clears the agency of any further obligations to the contractor and ends the contract. The release is signed once the contractor has fulfilled their responsibilities of the contract and the agency is satisfied with the quality of the work completed. Contract awards and releases can differ in other ways. A contract award often includes a start date while a contract release includes an end date. A contract award includes payment terms while a contract release includes payment amounts. A contract award includes the names of all entities involved in the contract while a contract release only requires the signatures of the government agency and contractor. Finally, a contract award must abide by California government contract laws and regulations, while a contract release does not.

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What is the difference between a contract award and a contract release?

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