Memorandum report on Transcentury Corporation : review of termination claim

Memorandum audit covering the period 11/83-3/84 is based on document review and interviews with contractor officials and consists of a review of a termination claim by the contractor, the TransCentury Corporation (TCC). After the U.S. Congress passed legislation directing A.I.D. to terminate its economic assistance program in Syria in 11/83, A.I.D. in 5/84 adopted and terminated the contract which TCC had entered into with the Government of Syria. Of the $132,007 in costs claimed by TCC, costs totalling $79,930 have been suspended because they occurred and were billed before the termination period and because the Syrian government declined to approve them for payment. It is recommended that A.I.D. take appropriate action to ensure settlement both of the $79,930 in suspended costs and of $6,975 in fixed fee.