Federal Cost Based Reimbursement Clause Samples

The Federal Cost Based Reimbursement clause establishes that payments for goods or services under a contract will be made based on the actual, allowable costs incurred, as defined by federal regulations. In practice, this means the contractor must document and justify all expenses, which are then reviewed and reimbursed by the federal agency according to specific cost principles, such as those found in the Federal Acquisition Regulation (FAR). This clause ensures that contractors are fairly compensated for legitimate costs while protecting the government from overpayment or unsubstantiated charges.
Federal Cost Based Reimbursement. Funds received for Federal Cost Based Reimbursement which should be budgeted in the program in which they were earned.
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Related to Federal Cost Based Reimbursement

  • Meal Reimbursement When an employee is specifically directed by the City to work two (2) hours or longer at the beginning or end of their normal work shift away from their place of residence of at least eight (8) hours or work two (2) hours or longer at the end of their work shift of at least eight (8) hours when the employee is called in to work on their regular day off, or otherwise works under circumstances for which meal reimbursement is authorized per Ordinance 111768 and the employee actually purchases a reasonably priced meal away from his place of residence as a result of such additional hours of work, the employee shall be reimbursed for the "reasonable cost" of such meal in accordance with Seattle Municipal Code (SMC) 4.20.

  • Educational Reimbursement ‌ 9.10.1. The Employer is desirous of having employees participate in courses and training opportunities to enhance their skills and enable them to advance to other positions. Accordingly, it shall be the Employer's goal to assist full-time, regular employees in the furtherance of this policy by offering a tuition reimbursement program for courses or training at accredited colleges and universities. 9.10.2. To qualify for reimbursement, the employee must make application to, and receive prior approval from, the Sheriff such approval shall be at the sole discretion of the Sheriff. 9.10.3. An employee requesting tuition reimbursement must submit a written application showing: a) The course curriculum description; b) dates and times of classes; c) duration of the course; d) narrative statement of how the course will benefit the Employer as well as the employee. 9.10.4. If an employee's application is approved, the reimbursement will be for tuition only if and when: a) The course is completed within six (6) months of approval; b) completed with a "pass" in a pass/fail grading system or a grade of "C" or better. The maximum reimbursement per credit will be the cost of a credit charged by Centralia College. 9.10.5. An employee who receives tuition reimbursement agrees to continue to work for the Employer for twelve (12) months following the completion of the course; if not, the reimbursement is pro-rated and the employee authorizes reimbursement to the Employer from the last paycheck issued. An employee who is unable to remain in the Employer's employment, due to circumstances beyond the employee's control, shall not be required to reimburse the Employer if the twelve (12) month period is not met. 9.10.6. Reimbursement shall be for actual tuition, or the cost of the course. All other expenses, such as travel and books, shall be borne by the employee.

  • Compensation; Reimbursement At the closing of each Offering (each, a “Closing”), the Company shall compensate ▇▇▇▇▇▇▇▇▇▇ as follows:

  • Mileage Reimbursement A. Subject to the current Vehicle Rules and Regulations established by the Board, an employee who is authorized to use a private automobile in the performance of duties shall be reimbursed for each mile driven in the performance of his or her duties during each monthly period as follows: 1. Through December 31, 1994 the reimbursement rate shall be thirty-nine

  • Education Reimbursement The County will provide education reimbursement for education costs incurred by regular employees who apply for such reimbursement in accordance with the policies and procedures governing the education reimbursement program. The maximum reimbursement shall be $1,500 per year.