mcorse

What is considered to be a "reasonable time" to re-procure a project after the original contract is placed in default? I have a contract that was placed in default last year (the contract modification to default and deobligate the funds has not occurred for administrative reasons) and it has taken 11 months to finally negotiate the replacement contract. My accounting office is telling me that more than a “reasonable amount of time” has occurred and the unliquidated funds remaining on the original contract are no longer available and that when I receive the payment of the penal sum of the performance bond those funds are not available either.