What type of contract action is indicated by the completion of a Contract Completion Statement?

The completion of a Contract Completion Statement signifies the end of a contract's performance and indicates that all obligations of the contract have been fulfilled by both parties. This formal documentation is part of the contract closeout process, which ensures that all aspects of the contract have been executed and accounted for, confirming that final payment has been made and that all deliverables have been received.

Contract closeout is a critical phase in procurement and contract management, as it not only finalizes the contractual relationship but also serves as a record for future reference and auditing. It safeguards the interests of both the contractor and the agency involved by providing a clear declaration that the contract has been concluded in accordance with its terms.

In contrast, a contract extension would involve prolonging the terms of the current agreement, a solicitation relates to inviting bids or proposals for new contracts, and a contract modification refers to formal changes made to the existing terms of the agreement. None of these options align with the completion actions signaled by a Contract Completion Statement, which is solely focused on concluding the contract.