Urban Artworks 1/19/2023 - Laserfiche WebLink

2. SIMPLIFIED ACQUISITION THRESHOLD Contracts for more than the simplified acquisition threshold, which is the inflation adjusted amount determined by the Civilian Agency Acquisition Council and the Defense Acquisition Regulations Council (Councils) as authorized by 41 U.S.C. § 1908, or otherwise set by law, must address administrative, contractual, or legal remedies in instances where contractors violate or breach contract terms, and provide for such sanctions and penalties as appropriate. (Note that the simplified acquisition threshold determines the procurement procedures that must be employed pursuant to 2 C.F.R. §§ 200.317–200.327.) The simplified acquisition threshold does not exempt a procurement from other eligibility or processes requirements that may apply. 3. ACCESS TO RECORDS The Contractor shall maintain complete, accurate, and readily accessible records related in whole or in part to the Contract, including, but not limited to, data, documents, reports, statistics, sub-agreements, leases, subcontracts, arrangements, other third-party agreements of any type, and supporting materials related to those records, sufficient to evidence compliance with section 603(c) of the Act, Treasury’s regulations implementing that section, and guidance issued by the Treasury regarding the foregoing. All such records shall be available to the City, the Treasury Office of Inspector General, and The Government Accountability Office, or their authorized representatives for inspection at any time during this Contract. The Contractor shall maintain all books, records, accounts and reports required under this Contract for a period of six (6) years after all funds have been expended or returned to the City, whichever is later, to ensure proper accounting for all funds and compliance with all applicable laws, regulations, and guidance. The City, the Treasury Office of Inspector General, and the Government Accountability Office, or their authorized representatives, shall have the right of access to records, electronic and otherwise, of the Contractor in order to conduct audits or other investigations. The Contractor acknowledges that records may be subject to disclosure under the Public Records Act, RCW 42.56. 4. UNIFORM GUIDANCE COMPLIANCE. A. Remedial Actions. In the event of Contractor’s noncompliance with section 603(c) of the Act, Treasury’s regulations implementing that section, guidance issued by Treasury regarding the foregoing, or any other applicable federal laws or regulations, Treasury may take available remedial actions as set forth in 2 C.F.R. 200.339. B. Recoupment Contractor agrees that it is financially responsible for and will repay the City any and all indicated amounts following an audit exception which occurs due to Contractor’s failure, for any reason, to comply with the terms of the Contractor. This duty to repay the City shall not be diminished or extinguished by the termination of the Contract. In the event of a violation of section 603(c) of the Act, the funds shall be subject to recoupment by the City.