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                            42.702 Purpose.
        
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FAC Number: 2024-03 Effective Date: 02/23/2024
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Subpart42.042.142.242.342.442.542.642.742.842.942.1142.1242.1342.1542.1642.17
Section42.70042.70142.70242.70342.70442.70542.70642.70742.70842.709
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42.702 Purpose.42.702 Purpose.       (a) 						            Establishing final indirect cost rates under this subpart provides-                                                         (1) 								                Uniformity of approach with a contractor when more than one contract or agency is involved;                                                            (2) 								                Economy of administration; and                                                            (3) 								                Timely settlement under cost-reimbursement contracts.                                                                             (b) 						            Establishing billing rates provides a method for interim reimbursement of indirect costs at estimated rates subject to adjustment during contract performance and at the time the final indirect cost rates are established.    **Parent topic:**  Subpart 42.7 - Indirect Cost Rates
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