Common use of ANNUAL SUBMISSION Clause in Contracts

ANNUAL SUBMISSION. Seller shall submit annually the requested government property financial data for all assets, including real property and equipment, special test equipment, special tooling, and agency peculiar property, regardless of unit acquisition cost, as well as materials and contract work in process of any value, in their possession (including subcontractors). The submitted government property financial data shall be in the format requested, with copies of the supporting data utilized to achieve the reported quantities and values. Seller shall submit the requested data and supporting documentation to Xxxxx’s Authorized Procurement Representative, prior to October 15 of each year. Unit prices of submitted data shall comply with NASA FAR Supplement 1845.7101-3 and shall be developed using actual costs to the greatest extent possible, especially costs directly related to fabrication such as labor and materials. Where estimates are used, there must be a documented basis. Supporting documentation shall be maintained and available for all amounts reported.