Acceptable Estimating System Sample Clauses

Acceptable Estimating System. ‌ An estimating system is a system that includes policies, procedures, and practices for budgeting and planning controls, and generating estimates of costs and other data included in proposals submitted to customers in the expectation of receiving contract awards. An acceptable estimating system means an estimating system that is: 1. Maintained, reliable, and consistently applied 2. Produces verifiable, supportable, documented, and timely cost estimates that are an acceptable basis for negotiation of fair and reasonable prices 3. Is consistent with and integrated with the Contractor’s related managementsystems 4. Is subject to applicable financial control systems An Acceptable Estimating System is not mandatory; however, Contractors are encouraged to have an acceptable estimating system approved by the Defense Contract Management Agency (DCMA) or other cognizant auditor for the entire term of OASIS SB. The Contractor shall notify the OASIS SB CO and designated OCO for affected task orders, in writing, if there are any changes in the status of their estimating system and provide the reasons for the change and copies of audit reports, as applicable.

Acceptable Estimating System. An estimating system is a system that includes policies, procedures, and practices for budgeting and planning controls, and generating estimates of costs and other data included in proposals submitted to customers in the expectation of receiving contract awards. An acceptable estimating system means an estimating system that is: 1. Maintained, reliable, and consistently applied 2. Produces, verifiable, supportable, documented, and timely cost estimates that are an acceptable basis for negotiation of fair and reasonable prices 3. Is consistent with and integrated with the Contractor’s related management systems

Acceptable Estimating System. An acceptable estimating system is a system that is audited by the Defense Contract Management Agency (DCMA) or any Cognizant Federal Agency (CFA) other than DCMA, that includes policies, procedures, and practices for budgeting and planning controls, and generating estimates of costs and other data included in proposals submitted to customers in the expectation of receiving contract awards. An acceptable estimating system means an estimating system that is: 1. Maintained, reliable, and consistently applied, and 2. Produces verifiable, supportable, documented, and timely cost estimates that are an acceptable basis for negotiation of fair and reasonable prices, and 3. Is consistent with and integrated with the Contractor’s related management systems, and 4. Is subject to applicable financial control systems. An acceptable estimating system is not mandatory; however, Contractors are encouraged to have an acceptable estimating system audited by DCMA or any CFA for the entire ordering period of their HCaTS contract. If the Contractor’s contract is inclusive of an acceptable estimating system, the Contractor shall maintain it for the rest of the ordering period. The Contractor shall notify the HCaTS CO and designated OCO(s) for affected task orders, in writing, if there are any changes in the status of its estimating system and provide the reason(s) for the change and copies of audit reports, as applicable.