1. Regulations
  2. title 48
  3. chapter 1
  4. part 32
  5. subpart 32.7
  6. § 32.703-1

View all text of Subpart 32.7 [32.700 - 32.706-3]

32.703-1 - 32.703-1 General.

(a) If the contract is fully funded, funds are obligated to cover the price or target price of a fixed-price contract or the estimated cost and any fee of a cost-reimbursement contract.

(b) If the contract is incrementally funded, funds are obligated to cover the amount allotted and any corresponding increment of fee.

AUTHORITY: 40 U.S.C. 121(c); 10 U.S.C. chapter 4 and 10 U.S.C. chapter 137 legacy provisions (see 10 U.S.C. 3016); and 51 U.S.C. 20113.

SOURCE: 48 FR 42328, Sept. 19, 1983, unless otherwise noted.

CITE AS: 48 CFR 32.703-1