14 U.S.C. § 1155 — Contract termination

(a) In general. (1) Notification. Before terminating a procurement or acquisition contract with a total value of more than $1,000,000, the Commandant of the Coast Guard must notify each vendor under the contract and require the vendor to maintain all work product related to the contract until the earlier of— (A) at least 1 year after the date of the notification; or (B) the date the Commandant notifies the vendor that maintaining the work product is no longer required. (b) Work product defined. In this section, “work product”— (1) means tangible and intangible items and information produced or possessed as a result of a contract referred to in subsection (a); and (2) includes— (A) any completed end items; (B) any uncompleted end items; and (C) any property in the contractor’s possession in which the United States Government has an interest. This section does not define “end items.” (c) Penalty. A vendor that fails to maintain work product as required under subsection (a) is liable to the United States for a civil penalty of not more than $25,000 for each day on which the work product is unavailable. (d) Report. (1) In general. Except as provided in paragraph (2), not later than 45 days after the end of each fiscal year, the Commandant of the Coast Guard must provide to the Committee on Transportation and Infrastructure of the House of Representatives and the Committee on Commerce, Science, and Transportation of the Senate a report detailing— (A) all Coast Guard contracts with a total value of more than $1,000,000 that were terminated in the fiscal year; (B) all vendors who were notified under subsection (a)(1) in the fiscal year, and the date of each notification; (C) all criminal, administrative, and other investigations concerning any contract with a total value of more than $1,000,000 that the Coast Guard initiated in the fiscal year; (D) all criminal, administrative, and other investigations concerning contracts with a total value of more than $1,000,000 that the Coast Guard completed in the fiscal year; and (E) an estimate of costs incurred by the Coast Guard, including contract line items and termination costs, as a result of this section’s requirements. (2) Limitation. The Commandant does not have to provide a report under paragraph (1) for a fiscal year for which there is no responsive information described in subparagraphs (A) through (E) of paragraph (1).