Contract Types: A Legal Overview
This report provides an overview of the various contract types (e.g., fixed-price, costreimbursement) used in federal procurement and the legal requirements pertaining to each. The types of contracts used by federal agencies have long been of interest to Congress and the executive branch, as they have sought to optimize the types of contracts used to acquire particular goods and services. Early on, the use of cost-plus-a-percentage-of-cost contracts-which provide for the government to reimburse contractors' costs and pay them a percentage of these costs as an allowance for profit-prompted concern among Members of the Continental Congress on the grounds that some contractors ran up their costs in order to recover larger fees. Such contracts were later prohibited and, more recently, concerns have centered upon the use of other types of "cost reimbursement" contracts. President Obama articulated a "preference for fixed-price type contracts" in his March 4, 2009, memorandum on government contracting, and the Department of Defense (DOD)-the largest procuring agency-amended its regulations in 2011 to require contracting officers to "give particular attention" to the use of fixed-price incentive (firm target) contracts, especially for acquisitions moving from development to production. However, more recently, DOD has indicated that it would be "refining its guidance" to emphasize the use of the other contract types where appropriate for the product or services being acquired.
THE DOCUMENT INCLUDES FOLLOWING FILES:
|#||FILE NAME||Document Date||Order ID:||Number of Pages||PRICE|
|1||R41168.pdf||Dec 20, 2012||R41168||18||$19.95||ADD TO CART|