Credits.

Federal Acquisition Regulations System 1 2023-10-01 2023-10-01 false Credits. 31.201-5 Section 31.201-5 Federal Acquisition Regulations System FEDERAL ACQUISITION REGULATION GENERAL CONTRACTING REQUIREMENTS CONTRACT COST PRINCIPLES AND PROCEDURES Contracts With Commercial Organizations 31.201–5 Credits. The applicable portion of any income, rebate, allowance, or other credit relating to any allowable cost and received by or accruing to the contractor shall be credited to the Government either as a cost reduction or by cash refund. See 31.205–6(j)(3) for rules governing refund or credit to the Government associated with pension adjustments and asset reversions. [48 FR 42301, Sept. 19, 1983, as amended at 54 FR 34755, Aug. 21, 1989; 63 FR 58597, Oct. 30, 1998; 72 FR 46363, Aug. 17, 2007]