§ 37-2-30 - Cost reimbursement contracts. - Rhode-island Statutes

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Statutes > Rhode-island > Title-37 > Chapter-37-2 > 37-2-30

SECTION 37-2-30

§ 37-2-30 Cost reimbursement contracts.– (a) No contract providing for the reimbursement of the contractor's cost plus afixed fee, hereinafter referred to as a cost reimbursement contract, may bemade under § 37-2-19, 37-2-20, or 37-2-21 unless it is determined, inwriting, by the chief purchasing officer that the contract is likely to be lesscostly to the state than any other type of contract, or that it isimpracticable to obtain supplies or services of the kind or quality requiredexcept under a cost reimbursement contract.

(b) Each contractor under a cost reimbursement type contractshall obtain consent, as provided for in the contract, before entering into:

(1) A cost reimbursement type subcontract; or

(2) Any other type of subcontract involving more than tenthousand dollars ($10,000) or ten percent (10%) of the estimated cost of theprime contract.

(c) All cost reimbursement type contracts shall contain aprovision that only costs recognized as allowable, in accordance with costprinciples set forth in regulations issued pursuant to § 37-2-42, will bereimbursable.

State Codes and Statutes

Statutes > Rhode-island > Title-37 > Chapter-37-2 > 37-2-30

SECTION 37-2-30

§ 37-2-30 Cost reimbursement contracts.– (a) No contract providing for the reimbursement of the contractor's cost plus afixed fee, hereinafter referred to as a cost reimbursement contract, may bemade under § 37-2-19, 37-2-20, or 37-2-21 unless it is determined, inwriting, by the chief purchasing officer that the contract is likely to be lesscostly to the state than any other type of contract, or that it isimpracticable to obtain supplies or services of the kind or quality requiredexcept under a cost reimbursement contract.

(b) Each contractor under a cost reimbursement type contractshall obtain consent, as provided for in the contract, before entering into:

(1) A cost reimbursement type subcontract; or

(2) Any other type of subcontract involving more than tenthousand dollars ($10,000) or ten percent (10%) of the estimated cost of theprime contract.

(c) All cost reimbursement type contracts shall contain aprovision that only costs recognized as allowable, in accordance with costprinciples set forth in regulations issued pursuant to § 37-2-42, will bereimbursable.

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State Codes and Statutes

Statutes > Rhode-island > Title-37 > Chapter-37-2 > 37-2-30

SECTION 37-2-30

§ 37-2-30 Cost reimbursement contracts.– (a) No contract providing for the reimbursement of the contractor's cost plus afixed fee, hereinafter referred to as a cost reimbursement contract, may bemade under § 37-2-19, 37-2-20, or 37-2-21 unless it is determined, inwriting, by the chief purchasing officer that the contract is likely to be lesscostly to the state than any other type of contract, or that it isimpracticable to obtain supplies or services of the kind or quality requiredexcept under a cost reimbursement contract.

(b) Each contractor under a cost reimbursement type contractshall obtain consent, as provided for in the contract, before entering into:

(1) A cost reimbursement type subcontract; or

(2) Any other type of subcontract involving more than tenthousand dollars ($10,000) or ten percent (10%) of the estimated cost of theprime contract.

(c) All cost reimbursement type contracts shall contain aprovision that only costs recognized as allowable, in accordance with costprinciples set forth in regulations issued pursuant to § 37-2-42, will bereimbursable.