Section 4.804-4 - Physically completed contracts(a) Except as provided in paragraph (b) of this section, a contract is considered to be physically completed when-(1)(i) The contractor has completed the required deliveries and the Government has inspected and accepted the supplies;(ii) The contractor has performed all services and the Government has accepted these services; and(iii) All option provisions, if any, have expired; or(2) The Government has given the contractor a notice of complete contract termination.(b) Rental, use, and storage agreements are considered to be physically completed when- (1) The Government has given the contractor a notice of complete contract termination; or(2) The contract period has expired.48 FR 42113, Sept. 19, 1983, as amended at 72 FR 27383 , May 15, 2007; 84 FR 19841 , May 6, 2019