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LOCKHEED MARTIN CORPORATION CORP DOC 4COST REIMBURSEMENT AND FEDERAL ACQUISITION REGULATION (FAR) SLOWDOWN PROVISIONS FOR SUBCONTRACTS/PURCHASE ORDERS FOR NONCOMMERCIAL ITEMS UNDER A U.S. GOVERNMENT
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Cost reimbursement and federal refers to a type of contract in which the government reimburses a contractor for allowable costs incurred in the performance of the contract.
Government contractors who have entered into cost reimbursement contracts with federal agencies are required to file cost reimbursement and federal forms.
Cost reimbursement and federal forms can be filled out by providing information on incurred costs, overhead rates, billing rates, and other contract-related expenses.
The purpose of cost reimbursement and federal is to ensure that contractors are properly reimbursed for allowable costs incurred in the performance of government contracts.
Information such as incurred costs, billing rates, overhead rates, subcontractor costs, and other contract-related expenses must be reported on cost reimbursement and federal forms.
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