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Panoptic Enterprises' FEDERAL CONTRACTS DISPATCH

DATE: February 4, 2003

SUBJECT: Federal Acquisition Regulation (FAR); General Provisions of the Cost Principles

SOURCE: Federal Register, February 4, 2003, Vol. 68, No. 23, page 5773

AGENCIES: Department of Defense (DOD), General Services Administration (GSA), and National Aeronautics and Space Administration (NASA)

ACTION: Proposed Rule

SYNOPSIS: It is proposed that the general provisions of the cost principles in the FAR Part 31, Contract Cost Principles and Procedures, be amended to clarify and expand on the concepts involved.

DATES: Comments are due on or before April 7, 2003.

ADDRESSES: Submit written comments on proposed rule to General Services Administration, FAR Secretariat (MVA), 1800 F Street, NW, Room 4035, Attn: Laurie Duarte, Washington, DC 20405. Submit e-mail comments to: farcase.2001-034@gsa.gov. Cite "FAR case 2001-034" when referring to this proposed rule.

FOR FURTHER INFORMATION CONTACT: Ralph De Stefano, 202-501-1758.

SUPPLEMENTAL INFORMATION: The Civilian Agency Acquisition Council (CAAC) and the Defense Acquisition Regulations Council (DARC) have performed an analysis of the general provisions of the cost principles applicable to commercial organizations and are proposing that the following FAR sections be amended:

The proposed rule would make other editorial changes, including revising the definition of "indirect cost" in FAR 2.101 ("with at least one intermediate cost objective" would replace "an intermediate cost objective"); changing the term "distributing" to "allocating"; and changing the phrase "several cost objectives" to "intermediate or final cost objectives" to be consistent with the terminology used in CAS and FAR Part 31.

FOR FURTHER INFORMATION CONTACT: Panoptic Enterprises at 703-451-5953 or by e-mail to Panoptic@FedGovContracts.com.

Copyright 2003 by Panoptic Enterprises. All Rights Reserved.

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