Common use of Invoice Certification Clause in Contracts

Invoice Certification. Submittal of an invoice constitutes the SUBCONTRACTOR’s Minimum Invoice Re quire ments. The invoice shall identify the following information: Subcontractor Timekeeping Records Signature Re quire me nt. The Subcontractor shall submit timecards for hourly employees for non-fixed-price and cost reimbursable subcontracts and non-fixed-price and cost reimbursable sub tiers. Cost reimbursable type subcontracts are defined by FAR 16.301 and non-fixed-price subcontracts are set forth in FAR 16.600 and includes Time-and-Materials and Labor-hour subcontracts. The subcontract and lower-tier timecards for these subcontract types must be obtained by HMIS prior to the Subcontractor’s payment of the costs. The timecards must reflect actual hours worked. The Subcontractor timecards must be signed by the Subcontractor employee and certified by the Subcontractor employee’s supervisor. The Subcontractors and lower-tiers performing work under cost- reimbursable and non-fixed-price subcontracts shall maintain adequate timekeeping procedures, controls, and processes for billing Government work. The Subcontractor shall, at least once every three (3) years, conduct a labor audit of cost reimbursable Subcontractors and lower-tiers. The audit shall be conducted to either Institute of Internal Auditors standards (if conducted internally) or GAGAS (if conducted externally), unmodified Fully ▇▇▇▇▇ ne d Hourly Rate. Unless specified otherwise, the invoiced amount shall be computed by multiplying the appropriate hourly rate prescribed in the Subcontract’s Rate Schedule by the number of direct billable labor hours. The rates shall include wages, indirect costs, general and administrative expense, and profit. Provisional Indire ct Billing Rates. Until final annual indirect cost rates are established for any period, the Buyer shall reimburse the Subcontractor at provisional billing rates established by the Buyer’s authorized contract specialist, or Administrative Contracting Officer, or by an authorized representative (the cognizant auditor), subject to adjustment when the final indirect Reimburse me nt of Costs. Reimbursable costs will be determined allowable by the BUYER’s authorized contract specialist in accordance with Federal Acquisition Regulation (FAR) Subpart