[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: 48CFR31.201-5]



[Page 601]

 

            TITLE 48--FEDERAL ACQUISITION REGULATIONS SYSTEM

 

                CHAPTER 1--FEDERAL ACQUISITION REGULATION

 

PART 31_CONTRACT COST PRINCIPLES AND PROCEDURES--Table of Contents

 

          Subpart 31.2_Contracts With Commercial Organizations

 

Sec. 31.201-5  Credits.



    The applicable portion of any income, rebate, allowance, or other 

credit relating to any allowable cost and received by or accruing to the 

contractor shall be credited to the Government either as a cost 

reduction or by cash refund. See 31.205-6(j)(4) for rules governing 

refund or credit to the Government associated with pension adjustments 

and asset reversions.



[48 FR 42301, Sept. 19, 1983, as amended at 54 FR 34755, Aug. 21, 1989; 

63 FR 58597, Oct. 30, 1998]