FAR 42.705 Final indirect cost rates
Section Federal Acquisition Regulation
Facts
- Citation
- FAR 42.705
- Type
- Section
- Last amended
- 67 FR 6118 Effective Feb 20, 2002
- 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) Final indirect cost rates shall be established on the basis of-
(1) Contracting officer determination procedure (see 42.705-1), or
(2) Auditor determination procedure (see 42.705-2).
(b) Within 120 days (or longer period, if approved in writing by the contracting officer,) after settlement of the final annual indirect cost rates for all years of a physically complete contract, the contractor must submit a completion invoice or voucher reflecting the settled amounts and rates. To determine whether a period longer than 120 days is appropriate, the contracting officer should consider whether there are extenuating circumstances, such as the following:
(1) Pending closeout of subcontracts awaiting Government audit.
(2) Pending contractor, subcontractor, or Government claims.
(3) Delays in the disposition of Government property.
(4) Delays in contract reconciliation.
(5) Any other pertinent factors.
(c)
(1) If the contractor fails to submit a completion invoice or voucher within the time specified in paragraph (b) of this section, the contracting officer may-
(i) Determine the amounts due to the contractor under the contract; and
(ii) Record this determination in a unilateral modification to the contract.
(2) This contracting officer determination must be issued as a final decision in accordance with 33.211.
Contents
Federal Register history
| Final rule | Published | Effective |
|---|---|---|
| Federal Acquisition Regulation; Final Contract Voucher Submission |
Sections cited
- FAR 42.705-1 Contracting officer determination procedure
- FAR 42.705-2 Auditor determination procedure
- FAR 33.211 Contracting officer’s decision
Quick answers
What is FAR 42.705?
FAR 42.705 is a section of the Federal Acquisition Regulation, titled "Final indirect cost rates".
When was FAR 42.705 last changed?
The most recent final rule on record is "Federal Acquisition Regulation; Final Contract Voucher Submission" (67 FR 6118), published Feb 8, 2002 and effective Feb 20, 2002.
Are changes to FAR 42.705 proposed?
No proposed rule from the last 3 years is waiting on a final rule.
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