FAR 49.303-1 Submission of settlement proposal.

In plain English

This section requires a contractor to submit a final settlement proposal for unvouchered costs and any proposed fee to the Termination Contracting Officer (TCO) within one year after the termination's effective date, unless the TCO extends that period. The contractor must use the form prescribed in 49.602-1 unless the TCO authorizes otherwise. The proposal cannot include costs that have been finally disallowed by the contracting officer or costs that were previously vouchered and formally questioned by the Government but not yet decided as to allowability.

Applies to: Contractors with terminated contracts seeking settlement of unvouchered costs and proposed fees

What it requires

• Submit a final settlement proposal covering unvouchered costs and any proposed fee to the TCO within 1 year from the effective date of termination, unless the period is extended by the TCO.
• Use the form prescribed in 49.602-1, unless the TCO authorizes otherwise.
• Exclude from the proposal costs that have been finally disallowed by the contracting officer.
• Exclude from the proposal costs that were previously vouchered and formally questioned by the Government but not yet decided as to allowability.

Key terms: final settlement proposal · unvouchered costs · proposed fee · TCO · effective date of termination

Written by AI from this section's text. A guide, not legal advice: the text below rules.