FAR 42.702 Purpose
Section Federal Acquisition Regulation
Facts
- Citation
- FAR 42.702
- Type
- Section
- Text as of
- FAC 2026-01
- Official text
- acquisition.gov
Text from acquisition.gov. Federal Register history from the Federal Register's records of the rules that amended this section.
Text
(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.
Quick answers
What is FAR 42.702?
FAR 42.702 is a section of the Federal Acquisition Regulation, titled "Purpose".
Are changes to FAR 42.702 proposed?
No proposed rule from the last 3 years is waiting on a final rule.
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