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Showing results for tags 'CFR'.
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What are the main differences between the Code of Federal Regulations and Federal Acquisition Regulations? Does one take precedence over the other? In what instances is the CFR applicable and when is the FAR applicable?
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FAR conflict with A-21?
caramel92 posted a topic in Contract Pricing Including CAS & Allowable Costs
Given a conflict between the FAR and OMB Circular A-21, which one controls? Both are codified in the CFR. FAR 42.705-3(b.)(6) states that “predetermined indirect cost rates shall be applicable for a period of not more than four years. The agency shall obtain the contractor’s proposal for new predetermined rates sufficiently in advance so that the new rates, based on current data, may be promptly negotiated near the beginning of the new fiscal year or other period agreed to by the parties”. However, OMB Circular A-21(G)(7) states that “Federal agencies shall use the negotiated rates for F&A
