12 CFR § 367.18 - Abrogation of contracts.

---
identifier: "/us/cfr/t12/s367.18"
source: "ecfr"
legal_status: "authoritative_unofficial"
title: "12 CFR § 367.18 - Abrogation of contracts."
title_number: 12
title_name: "Banks and Banking"
section_number: "367.18"
section_name: "Abrogation of contracts."
chapter_name: "FEDERAL DEPOSIT INSURANCE CORPORATION"
subchapter_number: "B"
subchapter_name: "REGULATIONS AND STATEMENTS OF GENERAL POLICY"
part_number: "367"
part_name: "SUSPENSION AND EXCLUSION OF CONTRACTOR AND TERMINATION OF CONTRACTS"
positive_law: false
currency: "2026-04-05"
last_updated: "2026-04-05"
format_version: "1.1.0"
generator: "[email protected]"
authority: "12 U.S.C. 1822(f) (4) and (5)."
regulatory_source: "61 FR 68560, Dec. 30, 1996, unless otherwise noted."
cfr_part: "367"
---


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(b) Any contract not rescinded or terminated shall continue in force in accordance with the terms thereof.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