Difference between revisions of "Who needs to Complete an Incurred Cost Submission"
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Latest revision as of 12:51, 27 June 2023
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.
