[Code of Federal Regulations]
[Title 48, Volume 6]
[Revised as of October 1, 2007]
From the U.S. Government Printing Office via GPO Access
[CITE: 48CFR2452.242-70]

[Page 488-489]
 
            TITLE 48--FEDERAL ACQUISITION REGULATIONS SYSTEM
 
         CHAPTER 24--DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT
 
Sec. 2452.242-70  Indirect costs.

    As prescribed in 2442.705-70, insert the following clause in cost-
reimbursement type solicitations and contracts when it is determined 
that the Contractor will be compensated for negotiated or provisional 
indirect cost rates pending establishment of final indirect cost rates.

                        Indirect Costs (APR 1984)

    (a) Pursuant to the provisions of the clause of this contract 
entitled, ``Allowable Cost and Payment'' the rates listed below are 
established. If the column entitled, ``Ceiling Rate'' has rates listed, 
the ceiling applies for those rates only. If there are no ceiling rates 
listed, ceilings do not apply to this contract and the provisions of 
paragraph (b) of this clause are not applicable.

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             Period                    Category        Provisional rate      Ceiling rate            Base
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Effective date until amended:
  (b) For the term of this contract, the final indirect rates shall not exceed the ceiling rates listed above,
   if any. However, in the event the indirect rates developed by the cognizant audit activity on the basis of
   actual allowable costs are less than the ceiling rates agreed to herein, then the rates established by such
   cognizant audits shall apply (downward adjustment only). The Government shall not be obligated to pay any
   additional amounts on indirect rates above the ceiling rates set forth for the applicable period.
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[[Page 489]]

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