Who needs to Complete an Incurred Cost Submission
From Knowledge base
The Requirement
The incurred cost submission is required for all federal contractors holding cost-type or time and materials (T&M) contracts and is a universal requirement regardless of agency customer. All contracts requiring the incurred cost submission will include the Federal Acquisition Regulations “Allowable Cost & Payment Clause” (FAR 52.216-7) and/or the “T&M Payment Clause” (FAR 52.232-7). Following are answers to frequently asked questions and pointers to resources to help you.
Who Needs to Prepare and Submit
The contractor holding the contract which contains the clause as well as higher tier home offices that allocates cost to the contractor holding the contract.
