[Code of Federal Regulations]

[Title 48, Volume 1]

[Revised as of October 1, 2005]

From the U.S. Government Printing Office via GPO Access

[CITE: 48CFR12.214]



[Page 197-198]

 

            TITLE 48--FEDERAL ACQUISITION REGULATIONS SYSTEM

 

                CHAPTER 1--FEDERAL ACQUISITION REGULATION

 

PART 12_ACQUISITION OF COMMERCIAL ITEMS--Table of Contents

 

  Subpart 12.2_Special Requirements for the Acquisition of Commercial 

                                  Items

 

Sec. 12.214  Cost Accounting Standards.



    Cost Accounting Standards (CAS) do not apply to contracts and 

subcontracts for the acquisition of commercial items when these 

contracts and subcontracts are firm-fixed-price or fixed-price with 

economic price adjustment (provided that the price adjustment is not 

based on actual costs incurred). See 48 CFR 30.201-1 for CAS 

applicability to fixed-price with economic price adjustment contracts 

and subcontracts for commercial items when the price adjustment is based 

on



[[Page 198]]



actual costs incurred. When CAS applies, the contracting officer shall 

insert the appropriate provisions and clauses as prescribed in 48 CFR 

30.201.



[63 FR 9054, Feb. 23, 1998]