Limitation of Funds Clause Equals No Cost Recovery

"In a recent case before the Armed Services Board of Contract Appeals (“ASBCA”) a major defense contractor found out that ignoring “Seeing” the terms of its government contract; not listening to “Hearing” the Termination Contracting Officer (“TCO”) decision; and arguing that the Limitation of Funds (“LOF”) clause, “Speaking” in the contract, does not apply to its Subcontractor termination settlement agreement nor equal recovery of cost in excess of the existing funding per the LOF stipulated parameters."

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