Who needs to Complete an Incurred Cost Submission

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.