48 C.F.R. § 42.702 — Purpose.
Federal Acquisition Regulations System 1 2023-10-01 2023-10-01 false Purpose. 42.702 Section 42.702 Federal Acquisition Regulations System FEDERAL ACQUISITION REGULATION CONTRACT MANAGEMENT CONTRACT ADMINISTRATION AND AUDIT SERVICES Indirect Cost Rates 42.702 Purpose. (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.