---
kind: "section"
citation: "48 C.F.R. § 570.401"
title: "48"
number: "570.401"
heading: "Renewal options."
url: "https://uscodex.org/cfr/48/570.401"
---

# §570.401. Renewal options.

- (a) **Exercise of options.** Before exercising an option to renew, follow the procedures in 517.207. The contract must first provide the right to renew the lease. If a renewal option was not evaluated as part of the lease at award, then the addition of a renewal option during the lease term must satisfy the requirements of GSAM 506 regarding full and open competition.
- (b) **Market information review.** Before exercising an option to renew a lease, review current market information to determine that the rental rate in the option is fair and reasonable.

## Notes

### Amendments

[76 FR 30851, May 27, 2011]

### Authority

Authority: 40 U.S.C. 121(c).

### Source

Source: 64 FR 37265, July 9, 1999, unless otherwise noted.

### Amendments

[76 FR 30851, May 27, 2011]