# 48 C.F.R. § 242.708 (2026): Quick-closeout procedure

> Federal · Regulations · In force

URL: https://www.frixlaw.com/law-library/statutes/CFR_T48_P242_S242_708

## Section

- **Citation:** 48 C.F.R. § 242.708 (2026)
- **Heading:** Quick-closeout procedure
- **Jurisdiction:** Federal
- **Kind:** Regulations
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** Title 48 CFR: Federal Acquisition Regulations System / Chapter 2 / Part 242 / Subpart 242.7 / § 242.708: Quick-closeout procedure.

## Text

(a) Defense Contract Management Agency administrative contracting officers are authorized to negotiate the settlement of direct and indirect costs for a specific contract, task order, or delivery order to be closed in advance of the determination of final direct costs and indirect rates set forth in FAR 42.705, regardless of the dollar value or percentage of unsettled direct or indirect costs allocable to the contract, task order, or delivery order. (2) In lieu of the thresholds at FAR 42.708(a)(2)(i) and (ii), the amount of unsettled direct costs and indirect costs to be allocated to the contract, task order, or delivery order will be considered relatively insignificant when the total unsettled direct costs and indirect costs to be allocated to any one contract, task order, or delivery order do not exceed $2 million, regardless of the total contract, task order, or delivery order amount. [88 FR 12865, Mar. 1, 2023]

## Nearby sections

- [48 C.F.R. § 242.705-1 (2026) Contracting officer determination procedure.](https://www.frixlaw.com/law-library/statutes/CFR_T48_P242_S242_705_1.md)
- [48 C.F.R. § 242.705-2 (2026) Auditor determination procedure.](https://www.frixlaw.com/law-library/statutes/CFR_T48_P242_S242_705_2.md)
- [48 C.F.R. § 242.708 (2026) Quick-closeout procedure.](https://www.frixlaw.com/law-library/statutes/CFR_T48_P242_S242_708.md)
- [48 C.F.R. § 242.771-1 (2026) Scope.](https://www.frixlaw.com/law-library/statutes/CFR_T48_P242_S242_771_1.md)
- [48 C.F.R. § 242.771-2 (2026) Policy.](https://www.frixlaw.com/law-library/statutes/CFR_T48_P242_S242_771_2.md)
- [48 C.F.R. § 242.771-3 (2026) Responsibilities.](https://www.frixlaw.com/law-library/statutes/CFR_T48_P242_S242_771_3.md)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/CFR_T48_P242_S242_708. Check the current official text before relying on it. Not legal advice.