---
kind: "section"
citation: "12 C.F.R. § 367.18"
title: "12"
number: "367.18"
heading: "Abrogation of contracts."
url: "https://uscodex.org/cfr/12/367.18"
---

# §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- (b) Any contract not rescinded or terminated shall continue in force in accordance with the terms thereof.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.

## Notes

### Authority

Authority: 12 U.S.C. 1822(f) (4) and (5).

### Source

Source: 61 FR 68560, Dec. 30, 1996, unless otherwise noted.