[Code of Federal Regulations]
[Title 48, Volume 1]
[Revised as of October 1, 2003]
From the U.S. Government Printing Office via GPO Access
[CITE: 48CFR42.705]

[Page 771]
 
            TITLE 48--FEDERAL ACQUISITION REGULATIONS SYSTEM
 
                CHAPTER 1--FEDERAL ACQUISITION REGULATION
 
PART 42_CONTRACT ADMINISTRATION AND AUDIT SERVICES--Table of Contents
 
                    Subpart 42.7_Indirect Cost Rates
 
Sec.  42.705  Final indirect cost rates.

    (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.

[61 FR 69296, Dec. 31, 1996, as amended at 67 FR 6119, Feb. 8, 2002]