# 48 CFR § 242.708: 242.708 Quick-closeout procedure

> Federal · Regulations · In force

URL: https://www.frixlaw.com/law-library/statutes/ecfr-48-242.708

## Section

- **Citation:** 48 CFR § 242.708
- **Heading:** 242.708 Quick-closeout procedure
- **Jurisdiction:** Federal
- **Kind:** Regulations
- **Status:** In force
- **Text as of:** September 22, 2026
- **Source:** Publisher's official text
- **Location:** Title 48—Federal Acquisition Regulations System > CHAPTER 2—DEFENSE ACQUISITION REGULATIONS SYSTEM, DEPARTMENT OF DEFENSE > SUBCHAPTER G—CONTRACT MANAGEMENT > PART 242—CONTRACT ADMINISTRATION AND AUDIT SERVICES > Subpart 242.7—Indirect Cost Rates

## 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 CFR § 242.200-70 242.200-70 Scope of subpart.](https://www.frixlaw.com/law-library/statutes/ecfr-48-242.200-70.md)
- [48 CFR § 242.202 242.202 Assignment of contract administration.](https://www.frixlaw.com/law-library/statutes/ecfr-48-242.202.md)
- [48 CFR § 242.301 242.301 General.](https://www.frixlaw.com/law-library/statutes/ecfr-48-242.301.md)
- [48 CFR § 242.302 242.302 Contract administration functions.](https://www.frixlaw.com/law-library/statutes/ecfr-48-242.302.md)
- [48 CFR § 242.503-2 242.503-2 Post-award conference procedure.](https://www.frixlaw.com/law-library/statutes/ecfr-48-242.503-2.md)
- [48 CFR § 242.602 242.602 Assignment and location.](https://www.frixlaw.com/law-library/statutes/ecfr-48-242.602.md)
- [48 CFR § 242.705-1 242.705-1 Contracting officer determination procedure.](https://www.frixlaw.com/law-library/statutes/ecfr-48-242.705-1.md)
- [48 CFR § 242.705-2 242.705-2 Auditor determination procedure.](https://www.frixlaw.com/law-library/statutes/ecfr-48-242.705-2.md)
- [48 CFR § 242.708 242.708 Quick-closeout procedure.](https://www.frixlaw.com/law-library/statutes/ecfr-48-242.708.md)
- [48 CFR § 242.771-1 242.771-1 Scope.](https://www.frixlaw.com/law-library/statutes/ecfr-48-242.771-1.md)
- [48 CFR § 242.771-2 242.771-2 Policy.](https://www.frixlaw.com/law-library/statutes/ecfr-48-242.771-2.md)
- [48 CFR § 242.771-3 242.771-3 Responsibilities.](https://www.frixlaw.com/law-library/statutes/ecfr-48-242.771-3.md)
- [48 CFR § 242.803 242.803 Disallowing costs after incurrence.](https://www.frixlaw.com/law-library/statutes/ecfr-48-242.803.md)
- [48 CFR § 242.1104 242.1104 Surveillance requirements.](https://www.frixlaw.com/law-library/statutes/ecfr-48-242.1104.md)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/ecfr-48-242.708. Check the current official text before relying on it. Not legal advice.