46 CFR 315.6 – Transferred vessels and contracts
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The requirements of § 315.5(a)(1) shall not apply to a contractor managing vessels owned by the United States under a contract or contracts previously awarded by another Federal agency if the contract, and the vessels managed under such contract, are subsequently transferred to the Maritime Administration, provided the period of performance of the transferred contract does not exceed the period of performance of the original contract, including options.
Terms Used In 46 CFR 315.6
- Contract: A legal written agreement that becomes binding when signed.