48 C.F.R. §§ 552.270-20

Current through October 31, 2024

Section 552.270-20 - Payment

As prescribed in 570.703, insert the following clause:

Payment (SEP 1999)

(a) When space is offered and accepted, ABOA square footage delivered will be confirmed by either:

(1) The Government's measurement of plans submitted by the successful offeror as approved by the Government, and an inspection of the space to verify that the delivered space conforms with such plans.

(2) A mutual on-site measurement of the space if the Contracting Officer determines it necessary.

(b) The Government will not pay for space in excess of the amount of ABOA square footage stated in the lease.

(c) If the amount of ABOA square footage delivered is less than the amount agreed to in the lease, the lease will be modified to reflect the amount of ABOA space delivered and the annual rental will be adjusted as follows:

ABOA square feet not delivered multiplied by one plus the common area factor (CAF), multiplied by the rate per rentable square foot (RSF). That is:

* (1+CAF) * Rate per RSF = Reduction in Annual Rent.

(End of clause)

48 C.F.R. §§552.270-20

64 FR 37229, July 9, 1999, as amended at 76 FR 30846 , May 27, 2011