Sorry if my post has been confusing!
Under a cost-reimbursement contract, final indirects must be settled in order for the vendor to submit an invoice for final contract payment. If the indirects have not been settled and the contract not closed out, the vendor would be required to keep all contract files and documentation to support the final billing.
DCAA is running approx 3 - 5 yrs behind in closing out indirects which affects final contract payment and contract closeout.
Therefore, in this situation, if final contract payment has not occurred, the records retention issue is moot and does not kick-in until the final contract payment actions has occurred. Am I off base or at least in the ball park? Thanks!!