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U.S Code last checked for updates: Nov 22, 2024
All Titles
Title 10
Subtitle A
Part IV
Chapter 169
Subchapter IV
§ 2872a. Utilities and services...
§ 2873. Direct loans and loan gu...
§ 2872a. Utilities and services...
§ 2873. Direct loans and loan gu...
U.S. Code
§ 2872b.
Treatment of breach of contract
(a)
Response to Material Breach
.—
In the case of a material breach of contract under this subchapter by a party to the contract, the Secretary concerned shall use the authorities available to the Secretary, including withholding amounts to be paid under the contract, to encourage the party to cure the breach.
(b)
Rescinding of Contract
.—
If a material breach of the contract is not cured in a timely manner, as determined by the Secretary concerned, the Secretary may—
(1)
rescind the contract pursuant to the terms of the contract; and
(2)
prohibit the offending party from entering into a new contract or undertaking expansions of other existing contracts, or both, with the Secretary under this subchapter.
(Added
Pub. L. 116–92, div. B, title XXX, § 3033(a)
,
Dec. 20, 2019
,
133 Stat. 1936
.)
cite as:
10 USC 2872b
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