22 CFR § 1508.415 - What must I do if a Federal agency excludes the participant or a principal after I enter into a covered transaction?

---
identifier: "/us/cfr/t22/s1508.415"
source: "ecfr"
legal_status: "authoritative_unofficial"
title: "22 CFR § 1508.415 - What must I do if a Federal agency excludes the participant or a principal after I enter into a covered transaction?"
title_number: 22
title_name: "Foreign Relations"
section_number: "1508.415"
section_name: "What must I do if a Federal agency excludes the participant or a principal after I enter into a covered transaction?"
chapter_name: "AFRICAN DEVELOPMENT FOUNDATION"
part_number: "1508"
part_name: "GOVERNMENTWIDE DEBARMENT AND SUSPENSION (NONPROCUREMENT)"
positive_law: false
currency: "2026-04-05"
last_updated: "2026-04-05"
format_version: "1.1.0"
generator: "[email protected]"
authority: "Sec. 2455, Pub.L. 103-355, 108 Stat. 3327; E.O. 12549, 3CFR, 1986 Comp., p.89; E.O. 12689, 3CFR, 1989 Comp., p. 235."
regulatory_source: "68 FR 66590, 66592, Nov. 26, 2003, unless otherwise noted."
cfr_part: "1508"
---


# 1508.415 What must I do if a Federal agency excludes the participant or a principal after I enter into a covered transaction?

(a) You as an agency official may continue covered transactions with an excluded person, or under which an excluded person is a principal, if the transactions were in existence when the person was excluded. You are not required to continue the transactions, however, and you may consider termination. You should make a decision about whether to terminate and the type of termination action, if any, only after a thorough review to ensure that the action is proper.

(b) You may not renew or extend covered transactions (other than no-cost time extensions) with any excluded person, or under which an excluded person is a principal, unless you obtain an exception under § 1508.120.