Events for May 23, 2018 › Government Contracting Seminars
LEARN MORE & REGISTER Summary The US Government contracts by using either Fixed Price or Cost Reimbursement Type Contracts to acquire goods and services. Fixed Price contracts are preferred as they place the burden of risk on the seller/contractor, whereas Cost Reimbursement Type contracts place the burden of risk on the buyer/government. Federal Acquisition Regulation (FAR) Part 16 describes types of contracts that may be used in acquisitions and prescribes policies, procedures, and guidance for selecting a contract type appropriate to acquisition circumstances. Cost-reimbursement contracts are covered by FAR subpart 16.3. The selection of contract types is wide in order to provide the Government and contractors the needed flexibility to acquire the variety and volume of services and supplies. The primary factors that govern the contract … Continue readingFind out more »
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