Contract Closeout is the process of verifying that all administrative matters are concluded on a contract that is otherwise physically complete (Garrett & Rendon, 2005).  The contract closeout process includes the following activities: 

1.  Processing property dispositions

2.  Conducting final acceptance of products or services.

3.  Processing final contractor payments.

4.  Documenting contractor’s performance.

5.  Conducting post project audit.