Common use of Final Indirect Cost Rates Clause in Contracts

Final Indirect Cost Rates. (1) Final annual indirect cost in estimated amounts when the exact amounts are not known; rates and the appropriate bases shall be established in accordance (B) Claims (including reasonable incidental with Subpart 42.7 of the Federal Acquisition Regulation (FAR) in expenses) based upon liabilities of the Seller to third parties arising effect for the period covered by the indirect cost rate proposal. out of the performance of this subcontract; provided, that the claims (2) The Seller shall, within 90 days after the expiration of are not known to the Seller on the date of the execution of the each of its fiscal years, or by a later date approved by the release, and that the Seller gives notice of the claims in writing to Company, submit to the Company (or, if applicable, to the the Company within six years following the release date or notice cognizant Contracting Officer responsible for negotiating its final of final payment date, whichever is earlier; and indirect cost rates and, if required by agency procedures, to the (C) Claims for reimbursement of costs, including cognizant audit activity) proposed final indirect cost rates for that reasonable incidental expenses, incurred by the Seller under the period and supporting cost data specifying the contract and/or patent clauses of this subcontract, excluding, however, any subcontract to which the rates apply. The proposed rates shall be expenses arising from the Seller's indemnification of the Company based on the Seller's actual cost experience for that period. The and the Government against patent liability. Company (or the appropriate Government representative) and the

Final Indirect Cost Rates. (1) Final annual indirect cost (A) Specified claims stated in exact amounts, or rates and the appropriate bases shall be established in accordance in estimated amounts when the exact amounts are not known; rates and the appropriate bases shall be established in accordance (B) Claims (including reasonable incidental with Subpart 42.7 of the Federal Acquisition Regulation (FAR) in expenses(B) based upon liabilities of the Seller to third parties arising Claims (including reasonable incidental effect for the period covered by the indirect cost rate proposal. out expenses) based upon liabilities of the performance of this subcontract; provided, that the claimsSeller to third parties arising (2) The Seller shall, within 90 days after the expiration of out of the performance of this subcontract; provided, that the claims each of its fiscal years, or by a later date approved by the are not known to the Seller on the date of the execution of the each of its fiscal yearsCompany, or by a later date approved by submit to the Company (or, if applicable, to the release, and that the Seller gives notice of the claims in writing to Company, submit to the Company (or, if applicable, to the cognizant Contracting Officer responsible for negotiating its final the Company within six years following the release date or notice cognizant Contracting Officer responsible for negotiating its final of final payment date, whichever is earlier; and indirect cost rates and, if required by agency procedures, to the (C) Claims for reimbursement of costsfinal payment date, including whichever is earlier; and cognizant audit activity) proposed final indirect cost rates for that (C) Claims for reimbursement of costs, including period and supporting cost data specifying the contract and/or reasonable incidental expenses, incurred by the Seller under the period and supporting cost data specifying the contract and/or patent clauses of this subcontract, excluding, however, any subcontract to which the rates apply. The proposed rates shall be expenses arising from the Seller's indemnification patent clauses of the Company this subcontract, excluding, however, any based on the Seller's actual cost experience for that period. The and expenses arising from the Government against patent liability. Seller's indemnification of the Company Company (or the appropriate Government representative) and thethe and the Government against patent liability. Seller shall establish the final indirect cost rates as promptly as