FAR 52.242-3 - Penalties for Unallowable Costs
From Knowledge base
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: | >700,000 |
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: | >700,000 |
Incorporated by Reference: | Yes |
Uniform Contract Format: | I |
Editor: |
Personal notes.