FAR 52.242-3 - Penalties for Unallowable Costs

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Prescribed in 42.709-6
Effective Date:
Clause or Provision:	Clause
Provision or Clause Number:	52.242-3 - Penalties for Unallowable Costs
Principle Type And/Or Purpose of Contract:
Required:
Applicable:	Cost Reimbursement Supply; Cost Reimbursement Research and Development; Cost Reimbursement Service; Cost Reimbursement Construction; Time and Materials/Labor Hour; Leasing of Motor Vehicles; Communication Services; Dismantling, Demolition, or Removal of Improvements; Architect-Engineering; Indefinite Delivery; Transportation;
Optional:	Fixed Price Service; Fixed Price Construction; Facilities; Simplified Acquisition Procedures; Utility Services;
Subject:
ProcurementType:
Contract Threshold:	">700K" is not in the list of possible values (<30,000, <15,000, >10,000, >10M, >5M, >1M, >150,000, >100,000, >30,000, >700,000, >25,000, >500,000, 0, >750,000) for this property.
Prescription Overview:
Clause Overview:
Important Notes/Requirements:	In all solicitations and contracts over $700,000 except fixed-price contracts without cost incentives or any firm fixed-price contract for the purchase of commercial items.Generally, covered contracts are those which contain one ofthe clauses at 52.216-7, 52.216-16, or 52.216-17, or a similarclause from an executive agency's supplement to the FAR.
Subcontract Threshold:	">700K" is not in the list of possible values (>3,000, >10M, >5M, >1M, >700,000, >150,000, >100,000, >30,000, >10,000, <150,000, <15,000, <30,000, >25,000, >500,000, 0, >750,000) for this property.
Incorporated by Reference:	Yes
Uniform Contract Format:	I
Editor:

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Personal notes.