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e-CFR data is current as of February 25, 2021

Title 48Chapter 1Subchapter CPart 16Subpart 16.3 → §16.301-2

Title 48: Federal Acquisition Regulations System
Subpart 16.3—Cost-Reimbursement Contracts

16.301-2   Application.

(a) The contracting officer shall use cost-reimbursement contracts only when—

(1) Circumstances do not allow the agency to define its requirements sufficiently to allow for a fixed-price type contract (see 7.105); or

(2) Uncertainties involved in contract performance do not permit costs to be estimated with sufficient accuracy to use any type of fixed-price contract.

(b) The contracting officer shall document the rationale for selecting the contract type in the written acquisition plan and ensure that the plan is approved and signed at least one level above the contracting officer (see 7.103(j) and 7.105). See also 16.103(d).

[76 FR 14547, Mar. 16, 2011, as amended at 77 FR 12927, Mar. 2, 2012]

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