§ 367.18. Abrogation of contracts.
76 words·~1 min read·
/us/cfr/t12/s§ 367.18·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)The FDIC may, in its discretion, rescind or terminate any contract in existence at the time a contractor is suspended or excluded.
(b)Any contract not rescinded or terminated shall continue in force in accordance with the terms thereof.
(c)The right to rescind or terminate a contract in existence is cumulative and in addition to any other remedies or rights the FDIC may have under the terms of the contract, at law, or otherwise.