515.209-70 Contract clause.

(a) Insert the clause at 552.215-70, Examination of Records by GSA, in solicitations and contracts exceeding the simplified acquisition threshold that meet any of the following conditions: (1) Involve the use or disposition of Government-furnished property. (2) Provide for advance payments, progress payments based on cost, or guaranteed loan. (3) Contain a price warranty or price reduction clause. (4) Involve income to the Government where income is based on operations under the control of the contractor. (5) Include an economic price adjustment clause where the adjustment is not based solely on an established, third party index. (6) Are requirements, indefinite-quantity, or letter type contracts as defined in FAR part 16. (7) Are subject to adjustment based on a negotiated cost escalation base. (8) Contain the FAR provision at 52.223-4. (b) The clause in paragraph (a) of this subsection may be modified to define the specific area of audit (e.g., the use or disposition of Government-furnished property). Legal (i.e., the Office of General Counsel or the Office of Regional Counsel, as appropriate), and Inspector General (i.e., the Assistant Inspector General for Auditing or the Regional Inspector General for Auditing, as appropriate) must concur with any modification to the clause. (c) Insert the clause at 552.215-73, Notice, in all solicitations and contracts for negotiated procurements exceeding the simplified acquisition threshold in accordance with FAR part 15.