§ 842.705 - Final indirect cost rates.

842.705 Final indirect cost rates.

Cross Reference

Link to an amendment published at 85 FR 60077, Sept. 24, 2020.

(a)

Except when the quick-closeout procedures described in FAR 42.708 are used, contracting officers

must

shall request contract audits on proposed final indirect cost rates and billing rates for use in cost reimbursement

,

and fixed-price incentive

, and fixed-price redeterminable

contracts as prescribed in FAR

Subpart

subpart 42.7.

(b) When the quick closeout procedures are used, the contracting officers must perform a review and validation of the contractor's data for accuracy and reasonableness of the proposed rates for negotiating the settlement of indirect costs for a specific contract.

[85 FR 60077, Sept. 24, 2020]