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, certification of the OAG's Chief Financial Officer shall be obtained as to whether 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).