contractor inventory

(2) Contractor inventory .— The term “contractor inventory” means— (A) property, in excess of amounts needed to complete full performance, that is acquired by and in possession of a contractor or subcontractor under a contract pursuant to which title is vested in the Federal Government; and (B) property that the Government is obligated or has the option to take over, under any type of contract, as a result of changes in specifications or plans under the contract, or as a result of termination of the contract (or a subcontract), prior to completion of the work, for the convenience or at the option of the Government.

Source

40 USC § 102(2)

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Scoping language

None identified, default scope is assumed to be the parent (subchapter I) of this section.

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