Common use of Cost Principles Clause in Contracts

Cost Principles. SUBRECIPIENT shall administer its Program in conformance with the OMB Super Circular, “Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards” as applicable. These principles shall be applied for all costs incurred whether charged on a direct or indirect basis. SUBRECIPIENT shall comply with ongoing tracking, reporting and compliance related to the purchase of fixed assets as applicable.

Cost Principles. SUBRECIPIENT shall administer its the Small Business Program in conformance with the OMB Super Circular, “Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards” as applicable. These principles shall be applied for all costs incurred whether charged on a direct or indirect basis. SUBRECIPIENT shall comply with ongoing tracking, reporting and compliance related to the purchase of fixed assets as applicable.