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                            16.301-1 Description.
        
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FAC Number: 2024-03 Effective Date: 02/23/2024
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Subpart16.016.116.216.316.416.516.616.7
Section16.30116.30216.30316.30416.30516.30616.307
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16.301-1 Description.16.301-1 Description.       Cost-reimbursement types of contracts provide for payment of allowable incurred costs, to the extent prescribed in the contract. These contracts establish an estimate of total cost for the purpose of obligating funds and establishing a ceiling that the contractor may not exceed (except at its own risk) without the approval of the contracting officer.    **Parent topic:**  16.301 General.
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