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Showing results for tags 'indirect cost rates'.
First – I apologize if this post is repeated from elsewhere in the forum. I performed several keyword searches and read a number of posts and did not see it addressed. Background: FAR 52.216-7(e) requires two conditions for billing indirect costs (anticipated final rates, and mutual agreement). In my case, the Company’s Cognizant Agency is behind in reviewing/approving billing rates by years (and even further behind on final rates – no surprise there to anybody, I’m sure). We have indirect rate swings (both ways) in prior years that – when netted against each other - are material to the Com
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