Rhode Island Code of Regulations
Title 805 - Capital Center Commission
Chapter 00 - N/A
Subchapter 00 - N/A
Part 1 - Rules of the Capital Center Commission for the Procurement of Supplies, Services and Legal Counsel (805-RICR-00-00-1)
Section 805-RICR-00-00-1.8 - Cost Principles Section
Universal Citation: 805 RI Code of Rules 00 00 1.8
Current through September 18, 2024
A. Cost and Pricing Principle. Except as otherwise provided by contract, the Chief Purchasing Officer shall use generally accepted accounting principles:
1. As guidelines in the negotiation of:
a. Estimated costs for contracts when the absence of open market competition precludes the use of competitive sealed bidding;
b. Adjustments for changes or modifications in contract performance requested by the Commission; and
c. Settlements of contracts which have been terminated.
2. To determine the allowability of incurred costs for the purposes of reimbursing costs under contract provisions which provide for the reimbursement of costs; and
3. As appropriate in any other situation where determinations of the estimated or incurred costs of performing a contract may be required.
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