GroundRules
48 CFR 570.401: 570.401 Renewal options.
Where this section sits in the code
- Title 48—Federal Acquisition Regulations System
- CHAPTER 5—GENERAL SERVICES ADMINISTRATION
- SUBCHAPTER I—SPECIAL CONTRACTING PROGRAMS
- PART 570—ACQUIRING LEASEHOLD INTERESTS IN REAL PROPERTY
- Subpart 570.4—Special Aspects of Contracting for Continued Space Requirements
(a) Exercise of options. Before exercising an option to renew, follow the procedures in 517.207. The contract must first provide the right to renew the lease. If a renewal option was not evaluated as part of the lease at award, then the addition of a renewal option during the lease term must satisfy the requirements of GSAM 506 regarding full and open competition.
(b) Market information review. Before exercising an option to renew a lease, review current market information to determine that the rental rate in the option is fair and reasonable.
Collected 2026-08-27T02:26:29Z. Source file · JSON