Final Indirect Cost Rates Sample Clauses
Final Indirect Cost Rates. (1) Final annual indirect cost in estimated amounts when the exact amounts are not known; rates and the appropriate bases shall be established in accordance (B) Claims (including reasonable incidental with Subpart 42.7 of the Federal Acquisition Regulation (FAR) in expenses) based upon liabilities of the Seller to third parties arising effect for the period covered by the indirect cost rate proposal. out of the performance of this subcontract; provided, that the claims
(2) The Seller shall, within 90 days after the expiration of are not known to the Seller on the date of the execution of the each of its fiscal years, or by a later date approved by the release, and that the Seller gives notice of the claims in writing to Company, submit to the Company (or, if applicable, to the the Company within six years following the release date or notice cognizant Contracting Officer responsible for negotiating its final of final payment date, whichever is earlier; and indirect cost rates and, if required by agency procedures, to the (C) Claims for reimbursement of costs, including cognizant audit activity) proposed final indirect cost rates for that reasonable incidental expenses, incurred by the Seller under the period and supporting cost data specifying the contract and/or patent clauses of this subcontract, excluding, however, any subcontract to which the rates apply. The proposed rates shall be expenses arising from the Seller's indemnification of the Company based on the Seller's actual cost experience for that period. The and the Government against patent liability. Company (or the appropriate Government representative) and the
Final Indirect Cost Rates. (1) Final annual indirect cost (A) Specified claims stated in exact amounts, or rates and the appropriate bases shall be established in accordance in estimated amounts when the exact amounts are not known; with Subpart 42.7 of the Federal Acquisition Regulation (FAR) in (B) Claims (including reasonable incidental effect for the period covered by the indirect cost rate proposal. expenses) based upon liabilities of the Seller to third parties arising
(2) The Seller shall, within 90 days after the expiration of out of the performance of this subcontract; provided, that the claims each of its fiscal years, or by a later date approved by the are not known to the Seller on the date of the execution of the Company, submit to the Company (or, if applicable, to the release, and that the Seller gives notice of the claims in writing to cognizant Contracting Officer responsible for negotiating its final the Company within six years following the release date or notice indirect cost rates and, if required by agency procedures, to the of final payment date, whichever is earlier; and
Final Indirect Cost Rates. Buyer shall reimburse Seller on the basis of final annual indirect cost rates and the appropriate bases established by Seller and approved by ▇▇▇▇▇ and/or the Government in effect for the period covered by the indirect cost rate proposal. Such rates and bases shall not change any monetary ceiling, contract obligation, or specific cost allowance or disallowance provided for in the Subcontract. The rates and bases shall be deemed incorporated into the Subcontract upon execution.
Final Indirect Cost Rates a. If the Subcontractor has a Cognizant Federal Agency, the Subcontractor shall annually submit an adequate final indirect cost rate proposal to the Subcontractor’s CFAO in accordance with FAR 52.216-7. The Subcontractor shall, upon request, provide evidence to ATI of submission to its CFAO.
b. If the Subcontractor does not have a CFAO or any other requirement to submit a final indirect cost rate proposal in accordance with FAR 52.216-7, the Subcontractor shall annually prepare a final indirect cost rate proposal in the format provided by the Incurred Cost Electronically (ICE) Model available at the following the website: ▇▇▇▇://▇▇▇.▇▇▇▇.▇▇▇/Home/ICEmodel?title=ICE%20(Incurred%20Cost%20Electronicall y)%20Model, hire an independent certified public accountant (CPA) to audit the final indirect cost rate proposal, and provide the audit results to ATI upon request.
c. The Subcontractor shall true up its ▇▇▇▇▇▇▇▇ to ATI using the final indirect cost rates established in Sections 2.a. or 2.b. of this clause.
1) If the Subcontractor elects Section 2.b., the Subcontractor shall certify as follows with the true up invoice:
2) Contractor may, at its own expense, retain an independent CPA firm to inspect the Subcontractor’s final indirect cost rate audit report and verify the clerical accuracy of the true up amount.
d. Contractor reserves the right to withhold up to 10% of the Subcontractor’s billed indirect costs or $50,000, whichever is less, from the Subcontractor’s last invoice until the requirements of this clause are satisfied.
Final Indirect Cost Rates. Cost Reimbursement. This section is applicable only to the extent that a Subcontract is of a cost reimbursement type. Buyer shall reimburse Seller on the basis of final annual indirect cost rates and the appropriate bases established by Seller and the Government in effect for the period covered by the indirect cost rate proposal. Such rates and bases shall not change any monetary ceiling, funding amount, contract obligation, or specific cost allowance or disallowance provided for in this Subcontract. The rates and bases shall be automatically deemed incorporated into this Subcontract upon their effective dates.