Regulation & law · 28/11/2003

Federal Acquisition Regulation to Change Cost Principle Application and Unallowable Costs Penalties

The Civilian Agency Acquisition Council and the Defense Acquisition Regulations Council are proposing to modify the Federal Acquisition Regulation to exempt contracts from cost principle application when pricing if cost or pricing data are not obtained, and to raise the contract dollar threshold for assessing penalties if unallowable costs are included in a claim for reimbursement.