19.415—What must I do if a Federal agency excludes the participant or a principal after I enter into a covered transaction?
(a)
You as an agency official may continue
covered transactions with an excluded person, or
under which an excluded person is a principal, if
the transactions were in existence when the person
was excluded. You are not required to continue the
transactions, however, and you may consider
termination. You should make a decision about
whether to terminate and the type of termination
action, if any, only after a thorough review to
ensure that the action is proper.
(b)
You may not renew or extend covered
transactions (other than no-cost time extensions)
with any excluded person, or under which an
excluded person is a principal, unless you obtain
an exception under § 19.120.