PUBLIC LAW 94-190—DEC. 31, 1975
89 STAT. 1095
Public Law 94-190 94th Congress An Act To provide for emergency relief for small business concerns in connection with fixed-price Government contracts. Be it enacted by the Senate and House of Representatives United States of America in Congress assembled,
of the
SHORT TITLE
Dec. 31, 1975 [H.R. 5541] Small Businesi; Emergency Relief Act.
SECTION 1. This Act may be cited as the "Small Business Emergency 41 USC 252 note. Relief Act". POLICY
SEC. 2. I t is the policy of Congress to provide relief to small busi- 41 USC 252 note, ness concerns which have fixed-price Government contracts in cases where such concerns have suffered or can be expected to suffer serious financial loss because of significant and unavoidable difficulties during performance because of the energy crisis or r a p i d and unexpected escalations of contract costs. DEFINITIONS
41 USC 252 note. SEC. 3. As used in this Act— (1) the term "executive agency" means an executive department, a military department, and an independent establishment within the meaning of sections 101, 102, and 104(1) respectively, of title 5, United States Code, and also a wholly owned Government corporation within the meaning of section 101 of the 31 USC 846. Government Corporation Control Act; and (2) the term "small business concern" means any concern which falls under the size limitations of the "Small Business Administrator's Definitions of Small Business for Government Procurement." AUTHORITY
SEC. 4. (a) Pursuant to an application by a small business concern, the head of any executive agency may terminate for the convenience of the Government any fixed-price contract between that agency and such small business concern, upon a finding that— (1) during the performance of the contract, the concern has suffered or can be expected to suffer serious financial loss due to significant unanticipated cost increases directly affecting the cost of contract compliance; and (2) the conditions which have caused or are causing such cost increases were, or are being, experienced generally by other small business concerns in the market at the same time and are not caused by negligence, underbidding, or other special management factors peculiar to that small business concern. (b) Upon application under subsection (a) by a small business concern to terminate a fixed-price contract between an executive agency and such small business concern, the head of the executive agency may modify the terms of the contract in lieu of termination for the convenience of the Government only if he finds after review of the application that—
Fixed price contracts, termination or modification. Application. 41 USC 252 note.
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