(i) Be supported by a procedure of inner Manage that provides reasonable assurance that the costs are precise, allowable, and correctly allocated;
The subsequent is a list of definitions of important phrases commonly Utilized in two CFR component two hundred. Definitions found in Federal statutes or rules that use to certain courses consider priority more than the following definitions.
(d) Be accorded regular therapy. By way of example, a price need to not be assigned to the Federal award being a immediate Value if another Expense incurred for the same goal in like situation has become allocated for the Federal award as an oblique Price.
(2) The Federal agency have to notify OMB of any authorized deviations. The receiver or subrecipient could notify OMB of any disputes with Federal agencies concerning the applying of the federally negotiated indirect Expense price.
usually means the method by which the Federal company or move-by entity decides that each one applicable administrative actions and all required perform on the Federal award happen to be completed and takes steps as described in § two hundred.344.
usually means some time interval from the beginning day of the funded part of an award to the tip day of that funded portion, for the duration of which recipients and subrecipients are approved to incur fiscal obligations in the money awarded, like any cash carried forward or other revisions pursuant to § two hundred.308.
Incentive payment to staff based upon Expense reduction, economical functionality, recommendation awards, or security awards is allowable into the extent that the overall compensation is determined to get affordable and these types of fees are compensated or accrued according to an arrangement entered into in fantastic religion among the recipient or subrecipient and the employees prior to the products and get more info services were rendered, or In line with a longtime plan accompanied by the recipient or subrecipient so continually regarding indicate, in influence, an arrangement for making such payment.
(b) A effectiveness bond around the contractor's section for 100 percent from the agreement rate. A performance bond is actually a bond executed in reference to a contract to secure the fulfillment of the many contractor's prerequisites below a agreement.
These procurement procedures expedite the completion of transactions, limit administrative burdens, and cut down prices. Casual procurement solutions could possibly be employed when the value from the procurement transaction under the Federal award isn't going to exceed the simplified acquisition threshold as defined in § 200.
Matter to the necessities and conditions set forth With this part, title to real house obtained or enhanced beneath the Federal award will vest upon acquisition inside the receiver or subrecipient.
(2) Lengthen or renew a deal to procure or attain protected telecommunications tools or companies; or
(7) Crucial Dates. Crucial dates contain because of dates for distributing apps or Government Order 12372 submissions, as well as for virtually any letters of intent or preapplications. For almost any announcement issued ahead of a program's software components are available, critical dates also incorporate the date on which Those people supplies will be unveiled; and every other supplemental data, as considered applicable through the Federal company.
(iii) Contracts needs to be awarded into the responsible offeror whose proposal is most advantageous to the receiver or subrecipient taking into consideration cost as well as other things; and
The Federal agency or go-via entity might accept the receiver's or subrecipient's bonding coverage and specifications for design or facility enhancement contracts or subcontracts exceeding the simplified acquisition threshold.