Common use of Concurrent and future contract savings Clause in Contracts

Concurrent and future contract savings. (1) Payments of the Contractor's share of concurrent and future contract savings shall be made by a modification to the instant contract in accordance with subparagraph (h)(5) above. For incentive contracts, shares shall be added as a separate firm-fixed-price line item on the instant contract. The Contractor shall maintain records adequate to identify the first delivered unit for 3 years after final payment under this contract. (2) The Contracting Officer shall calculate the Contractor's share of concurrent contract savings by-- (i) Subtracting from the reduction in price negotiated on the concurrent contract any Government costs or negative instant contract savings not yet offset; and (ii) Multiplying the result by the Contractor's sharing rate. (3) The Contracting Officer shall calculate the Contractor's share of future contract savings by-- (i) Multiplying the future unit cost reduction by the number of future contract units scheduled for delivery during the sharing period; (ii) Subtracting any Government costs or negative instant contract savings not yet offset; and (iii) Multiplying the result by the Contractor's sharing rate. (4) When the Government wishes and the Contractor agrees, the Contractor's share of future contract savings may be paid in a single lump sum rather than in a series of payments over time as future contracts are awarded. Under this alternate procedure, the future contract savings may be calculated when the VECP is accepted, on the basis of the Contracting Officer's forecast of the number of units that will be delivered during the sharing period. The Contractor's share shall be included in a modification to this contract (see subparagraph (h)(3) above) and shall not be subject to subsequent adjustment. (5) Alternate no-cost settlement method. When, in accordance with subsection 48.104-4 of the Federal Acquisition Regulation, the Government and the Contractor mutually agree to use the no-cost settlement method, the following applies: (i) The Contractor will keep all the savings on the instant contract and on its concurrent contracts only. (ii) The Government will keep all the savings resulting from concurrent contracts placed on other sources, savings from all future contracts, and all collateral savings.

Appears in 4 contracts

Samples: Contract, Contract, Contract

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Concurrent and future contract savings. (1) Payments of the Contractor's share of concurrent and future contract savings shall be made by a modification to the instant contract in accordance with subparagraph (h)(5) above. For incentive contracts, shares shall be added as a separate firm-fixed-price line item on the instant contract. The Contractor shall maintain records adequate to identify the first delivered unit for 3 years after final payment under this contract. (2) The Contracting Officer shall calculate the Contractor's share of concurrent contract savings by-- by -- (i) Subtracting i)Subtracting from the reduction in price negotiated on the concurrent contract any Government costs or negative instant contract savings not yet offset; and and (ii) Multiplying the result by the Contractor's Contractors sharing rate. (3) The Contracting Officer shall calculate the Contractor's share of future contract savings by--by -- (i) Multiplying the future unit cost reduction by the number of future contract units scheduled for delivery during the sharing period; ; (ii) Subtracting any Government costs or negative instant contract savings not yet offset; and and (iii) Multiplying the result by the Contractor's sharing rate. (4) When the Government wishes and the Contractor agrees, the Contractor's share of future contract savings may be paid in a single lump sum rather than in a series of payments over time as future contracts are awarded. Under this alternate procedure, the future contract savings may be calculated when the VECP is accepted, on the basis of the Contracting Officer's forecast of the number of units that will be delivered during the sharing period. The Contractor's share shall be included in a modification to this contract (see subparagraph (h)(3) above) and shall not be subject to subsequent adjustment. (5) Alternate no-cost settlement method. When, in accordance with subsection 48.104-4 of the Federal Acquisition Regulation, the Government and the Contractor mutually agree to use the no-cost settlement method, the following applies: : (i) The Contractor will keep all the savings on the instant contract and on its concurrent contracts only. (ii) The Government will keep all the savings resulting from concurrent contracts placed on other sources, savings from all future contracts, and all collateral savings.. N00164-01-D-0042 PAGE 39 OF 50

Appears in 1 contract

Samples: Contract (Markland Technologies Inc)

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