Common use of Reasonable Costs Clause in Contracts

Reasonable Costs. A cost is reasonable if, in its nature and amount, it does not exceed that which would be incurred by a prudent person under the circumstances prevailing at the time the decision was made to incur the cost. In determining reasonableness of a given cost, consideration shall be given to: a. whether the cost is of a type generally recognized as ordinary and necessary for the operation of the performance of the grant; b. the restraints or requirements imposed by such factors as: sound business practices; arm’s length bargaining; federal, state, tribal, and other laws and regulations; and terms and conditions of the grant award; c. market prices for comparable goods or services; and x. whether the Grantee acted with xxxxxxxx in the circumstances considering the Grantee’s responsibilities to the Department and the public at large.

Reasonable Costs. A cost is reasonable if, in its nature and amount, it does not exceed that which would be incurred by a prudent person under the circumstances prevailing at the time the decision was made to incur the cost. In determining reasonableness of a given cost, consideration shall be given to: a. whether the cost is of a type generally recognized as ordinary and necessary for the operation of the performance of the grant; b. the restraints or requirements imposed by such factors as: sound business practices; arm’s length bargaining; federal, state, tribal, and other laws and regulations; and terms and conditions of the grant award; c. market prices for comparable goods or services; and x. d. whether the Grantee acted with xxxxxxxx in the circumstances considering the Grantee’s responsibilities to the Department and the public at large.

Reasonable Costs. A cost is reasonable if, in its nature and amount, it does not exceed that which would be incurred by a prudent person under the circumstances prevailing at the time the decision was made to incur the cost. In determining reasonableness of a given cost, consideration shall be given to: a. whether the cost is of a type generally recognized as ordinary and necessary for the operation of the governmental unit or the performance of the grant; b. the restraints or requirements imposed by such factors as: sound business practices; arm’s length bargaining; federal, state, tribal, and other laws and regulations; and terms and conditions of the grant award; c. market prices for comparable goods or services; d. significant deviations from the established practices of the governmental unit which may unjustifiably increase cost; and x. e. whether the Grantee individuals concerned acted with xxxxxxxx prudence in the circumstances considering the Grantee’s their responsibilities to the Department and governmental unit, its employees, the public at large, and the state or federal government.

Reasonable Costs. A cost is reasonable if, in its nature and amount, it does not exceed that which would be incurred by a prudent person under the circumstances prevailing at the time the decision was made to incur the cost. In determining reasonableness of a given cost, consideration shall be given to: a. 1. whether the cost is of a type generally recognized as ordinary and necessary for the operation of the governmental unit or the performance of the grant; b. 2. the restraints or requirements imposed by such factors as: sound business practices; arm’s arm’s-length bargaining; federal, state, tribal, and other laws and regulations; and terms and conditions of the grant award; c. 3. market prices for comparable goods or services; 4. significant deviations from the established practices of the governmental unit which may unjustifiably increase cost; and x. 5. whether the Grantee individuals concerned acted with xxxxxxxx in the circumstances considering the Grantee’s their responsibilities to the Department and governmental unit, its employees, the public at large, and the state or federal government.