2 C.F.R. § 180.415 What must I do if a Federal agency excludes the participant or a principal after I enter into a covered transaction?
Title 2 - Grants and Agreements
Title 2: Grants and Agreements
PART 180—OMB GUIDELINES TO AGENCIES ON GOVERNMENTWIDE DEBARMENT AND SUSPENSION (NONPROCUREMENT)
Subpart D—Responsibilities of Federal Agency Officials Regarding Transactions
§ 180.415 What must I do if a Federal agency excludes the participant or a principal after I enter into a covered transaction?
(a) You as a Federal agency official may continue covered transactions with an excluded person, or under which an excluded person is a principal, if the transactions were in existence when the person was excluded. You are not required to continue the transactions, however, and you may consider termination. You should make a decision about whether to terminate and the type of termination action, if any, only after a thorough review to ensure that the action is proper.
(b) You may not renew or extend covered transactions (other than no-cost time extensions) with any excluded person, or under which an excluded person is a principal, unless you obtain an exception under §180.135.
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