What is the process for administering and closing out a government contract?

In the State of Washington, the process for administering and closing out a government contract begins with the award of the contract. This is done through a competitive bidding process, where the government agency solicits bids from contractors who are willing and able to meet the government’s requirements. The successful contractor is then chosen, as well as the contract agreement and the amount of payment to be provided to the contractor. Once the contract has been awarded and the agreement completed, the contractor can then begin work on the project. During the term of the contract, the government agency and contractor may need to review and modify the agreement, as well as make sure that all performance requirements are met. The government agency may also conduct inspections to ensure that the contractor is following all of the terms of the contract. Upon completion of the contract work, the contractor will submit a final invoice to the government agency. The agency will then review the invoice and issue final payment to the contractor. The government agency may conduct an audit to ensure that all of the terms of the contract were met, as well as that all payments were properly made. Once all of the requirements have been fulfilled and payments have been made, the government contract is considered to be closed out and the contractor is no longer under any legal obligation to the government.

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What is the process for administering and closing out a government contract?

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