Code of Federal Regulations Title 2. Grants and Agreements 2 CFR Pt. 1136, App. G—TERMS AND CONDITIONS FOR OAR ARTICLE VII, “POST–CLOSEOUT ADJUSTMENTS AND CONTINUING RESPONSIBILITIES”

As required by § 1136.705, a DoD Component's general terms and conditions must use the following wording for OAR Article VII.

OAR Article VII. Post–Closeout Adjustments and Continuing responsibilities. (DECEMBER 2014)

Section A. Adjustments. The closeout of this award does not affect:

1. Our right to disallow costs and recover funds on the basis of a later audit or other review, as long as we make the determination that the costs are disallowed and notify you about that determination within the extended records retention period specified in paragraph B.2 of OAR Article II of these terms and conditions.

2. Your obligation to return any funds due to the Federal Government as a result of later refunds, corrections, or other transactions (to include any adjustments in final indirect cost rates).

Section B. Continuing responsibilities. After closeout of this award, you must continue to comply with terms and conditions of this award that have applicability beyond closeout, including requirements concerning:

1. Audits, as specified in FMS Article V that cover periods of time during which you expended funds under this award.

2. Management, use, and disposition of any real property or equipment acquired or improved under this award in which we continue to have a Federal interest after closeout, as specified in PROP Articles I through IV.

3. Retention of, and access to, records related to this award, as specified in OAR Article II.