§42.702. Purpose.
48 C.F.R. § 42.702
Establishing final indirect cost rates under this subpart provides—
Uniformity of approach with a contractor when more than one contract or agency is involved;
Economy of administration; and
Timely settlement under cost-reimbursement contracts.
Establishing billing rates provides a method for interim reimbursement of indirect costs at estimated rates subject to adjustment during contract performance and at the time the final indirect cost rates are established.
Notes, amendments, and revision history
Authority
Authority: 41 U.S.C. 1121(b); 40 U.S.C. 121(c); 10 U.S.C. chapter 4 and 10 U.S.C. chapter 137 legacy provisions (see 10 U.S.C. 3016); and 51 U.S.C. 20113.
Source
Source: 48 FR 42370, Sept. 19, 1983, unless otherwise noted.