Current through October 31, 2024
Section 367.18 - Abrogation of contracts(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rescind or terminate any contract in existence at the time a contractor is suspended or excluded.(b) Any contract not rescinded or terminated shall continue in force in accordance with the terms thereof.(c) The right to rescind or terminate a contract in existence is cumulative and in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.