48 CFR 242.7503 - 242.7503 Contract clause.

Regulations last checked for updates: Nov 25, 2024

Title 48 - Federal Acquisition Regulations System last revised: Nov 15, 2024

242.7503 - 242.7503 Contract clause.

Use the clause at 252.242-7006, Accounting System Administration, in solicitations and contracts when contemplating—

(a) A cost-reimbursement, incentive type, time-and-materials, or labor-hour contract; or

(b) A contract with progress payments made on the basis of costs incurred by the contractor or on a percentage or stage of completion.

[76 FR 28870, May 18, 2011, as amended at 77 FR 11366, Feb. 24, 2012; 82 FR 61481, Dec. 28, 2017]

authority: 41 U.S.C. 1303 and 48 CFR chapter 1

source: 56 FR 36437, July 31, 1991, unless otherwise noted.

cite as: 48 CFR 242.7503