What is a "Cure Notice"?

A "Cure Notice" is a formal communication issued when a contractor is not complying with the terms of a contract, indicating that there are specific failures that need to be addressed. The purpose of this notice is to inform the contractor of these deficiencies and provide them with a designated time period to rectify the issues outlined.

This process is crucial in contract management as it allows for corrective action to be taken without immediately resorting to penalties such as contract termination. The contractor is essentially given a chance to "cure" the problems before further action is considered. This mechanism not only fosters accountability but also helps maintain the integrity of the contractual relationship.

The other choices do not accurately describe what a Cure Notice entails. A notice of contract termination indicates a complete end to contractual obligations rather than a call for correction. A request to increase contract funds pertains to budgetary adjustments and is unrelated to performance failures. A summary of completed contract tasks would focus on what has been achieved rather than addressing shortcomings within the contract performance.