GSAM

GSAM

Change Number: Change 155 GSAM Case 2021-G525
Effective Date: 08/30/2022

517.207 Exercise of options.

In addition to the requirements of FAR 17.207, the contracting officer shall:

      (a) Document the contract file with the rationale for exercising the contract option to extend the period of performance if the contractor's performance under the contract is less than satisfactory.

      (b) Determine that the option price is fair and reasonable.

      (c)If applicable, consider any tiered solutions (see subpart Subpart 507.71 - Category Management) or mandated solutions that were otherwise not available at the time of award.

      (d) Conduct a Personal Identity Verification card review to determine the need for continued access, see 504.1370(c). This function may be delegated to the COR.

      (e)For FSS contracts, verify the contractor is currently in compliance with GSAR clause 552.238-77 Submission and Distribution of Authorized Federal Supply Schedule (FSS) Price Lists., Submission and Distribution of Authorized Federal Supply Schedule Price Lists.

      (f) If applicable, verify that the contractor’s subcontracting plan goals have been reviewed and approved (inclusive of any amendments) and review the contractor’s performance and compliance under the subcontracting plan (see FAR 19.705-6 and 19.706, and 519.706 Responsibilities of the cognizant administrative contracting officer.).