5044 EXERCISING OF OPTIONS

5044.1 To exercise an option over one hundred thousand dollars ($100,000) the Contracting Officer must first obtain the approval of the CCO.

5044.2 In addition to the approval of the CCO (if applicable), prior to exercising any option, the Contracting Officer must obtain certification of OAG's Agency Fiscal Officer (AFO) that funds are available for the exercise of the option.

5044.3 When exercising an option, the Contracting Officer shall provide written notice to the contractor within the time period specified in the contract.

SOURCE: Final Rulemaking published at 65 DCR 4406 (April 20, 2018); as amended by Final Rulemaking published at 68 DCR 011740 (November 5, 2021).