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FAR

FAR

FAC Number: 2024-03
Effective Date: 02/23/2024

16.206-3 Limitations.

16.206-3 Limitations.

This contract type shall not be used unless-

(a) The contract is for research and development and the estimated cost is the simplified acquisition threshold or less;

(b) The contractor’s accounting system is adequate for price redetermination;

(c) There is reasonable assurance that the price redetermination will take place promptly at the specified time; and

(d) The head of the contracting activity (or a higher-level official, if required by agency procedures) approves its use in writing.

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