Common use of Billing Rates Clause in Contracts

Billing Rates. There shall be included as allowable indirect costs such overhead rates as may be established by Seller and approved by Buyer and/or the cognizant Government agency in accordance with the principles of the FAR and applicable FAR supplement. Pending establishment of final indirect overhead rates for any period, Seller shall be reimbursed at billing rates approved by the Buyer and/or the cognizant Government agency, which billing rates may be revised from time to time subject to such approval and subject to appropriate adjustment when the final rates for that period are established.‌

Billing Rates. There shall be included as allowable indirect costs such overhead rates as may be established by Seller SELLER and approved by Buyer and/or the cognizant Government agency in accordance with the principles of the FAR and applicable FAR supplement. Pending establishment of final indirect overhead rates for any period, Seller SELLER shall be reimbursed at billing rates approved by the Buyer and/or the cognizant Government agency, which billing rates may be revised from time to time subject to such approval and subject to appropriate adjustment when the final rates for that period are established.‌established.