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Code of Federal Regulations (Last Updated: July 5, 2024) |
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Title 48 - Federal Acquisition Regulations System |
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Chapter 18 - National Aeronautics and Space Administration |
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SubChapter C - Contracting Methods and Contract Types |
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Part 1817 - Special Contracting Methods |
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Subpart 1817.2 - Options |
§ 1817.207 - Exercise of options. (NASA supplements paragraph (f))
Latest version.
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(f) Options under cost type contracts shall contain an estimated cost for the option period(s).
(f)(2) Use of the provision (or formula) for determining the price of a fixed price option requires advance approval by the Assistant Administrator for Procurement (Code HS).
(f)(3)(ii) Use of a formula to determine the fee of an option in a cost-type contract requires advance approval of the Assistant Administrator for Procurement (Code HS). The formula shall
preclude the contractor from increasing costs for the purpose of earning additional fee.