Exhibit 347 ยท Regulation
FAR 16.301-2 Use
The contracting officer shall use cost-reimbursement contracts only when- (1) Circumstances do not allow the agency to define its requirements sufficiently to allow for a fixed-price type contract (see 7.105); or (2) Uncertainties involved in contract performance do not permit costs to be estimated with sufficient accuracy to use any type of fixed-price contract.
Limits cost-reimbursement contracts to cases where requirements cannot be defined well enough for a fixed-price contract or where costs cannot be estimated accurately enough to use one.
- Source
- Federal Acquisition Regulatory Council
- Date
- Current text, accessed 9 November 2026
- Quoted from
- FAR 16.301-2(a)
- Grade
- Primary record
- Document
- https://www.acquisition.gov/far/16.301-2
- Accessed
- 2026-11-09
- Cited by
- Findings citing this exhibit