Purpose.
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Title 48 CFR: Federal Acquisition Regulations System › Chapter 1 › Part 42 › Subpart 42.7 › § 42.702: Purpose.
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(a) Establishing final indirect cost rates under this subpart provides— (1) Uniformity of approach with a contractor when more than one contract or agency is involved; (2) Economy of administration; and (3) Timely settlement under cost-reimbursement contracts. (b) Establishing billing rates provides a method for interim reimbursement of indirect costs at estimated rates subject to adjustment during contract performance and at the time the final indirect cost rates are established.
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