FAR 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.
Source: acquisition.gov — FAR
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