Defense Federal Acquisition Regulation Supplement; Liability for Loss Under Vessel Repair and Alteration Contracts
dfars-acquisition · Defense Federal Acquisition Regulations System · Rule · Published 2003-08-21 · 68 FR 50477
Document
Document number
03-21311
Federal Register citation
68 FR 50477
CFR reference
48 CFR 252
Type
Rule
Action
Final rule.
Category
dfars-acquisition
Sub-agency
Defense Federal Acquisition Regulations System
Publication date
2003-08-21
DOD docket
DFARS Case 2002-D016
Abstract
DoD has issued a final rule amending the Defense Federal Acquisition Regulation Supplement (DFARS) to increase a contractor's liability for loss or damage under vessel repair and alteration contracts, from $5,000 to $50,000 per incident. The increased dollar ceiling is based on adjustments for inflation, the need to provide a financial incentive for contractors to minimize loss and damage, and common insurance practices.