A cost-reimbursement contract is a contract where a contractor is paid for all of its allowed expenses to a set limit, plus additional payment to allow for a profit. Cost-reimbursement contracts contrast with a fixed-price contract, in which the contractor is paid a negotiated amount regardless of incurred expenses.t also is a contract cost limitation that the contractor cannot exceed, except at the risk of non-reimbursement. It is one in which the contractor is reimbursed the actual costs they incur in carrying out the works, plus an additional fee.
The report identified a number of problems in the award and administration of these service contracts and determined that controls were not in place that would ensure adequate surveillance was performed on contracts, particularly cost reimbursable and time and materials type contracts (p. Samples in periodicals archive: The firm-fixed-price, cost reimbursable contract to support Afghanistan s national police force has a base period of nine months and two options that could extend the project up to six months and is worth up to $52. A cost-reimbursement contract is a contract where a contractor is paid for all of its allowed expenses to a set limit, plus additional payment to allow for a profit. Cost-reimbursement contracts contrast with a fixed-price contract, in which the contractor is paid a negotiated amount regardless of incurred expenses. It also is a contract cost limitation that the contractor cannot exceed, except at the risk of non-reimbursement. This limit can be changed by mutual agreement of the government and the contractor through a modification to the contract. NAVY. Leidos, Inc., Reston, Virginia was awarded a ceiling $4,336,822,777 indefinite-delivery/indefinite-quantity contract, with firm-fixed-price, cost-plus-fixed-fee, cost-plus-incentive fee, and fixed-price incentive pricing arrangements, for the Defense Healthcare Management System Modernization program. Huntington Ingalls Inc., Newport News, Virginia, is being awarded a $20,580,879 delivery order under indefinite-delivery/indefinite-quantity contract N4523A-15-D-5016-0001 for ship repair support on USS Nimitz (CVN 68). CR stands for Cost Reimbursable (contract type). Suggest new definition. This definition appears frequently and is found in the following Acronym Finder categories: 1  Military and Government. 2  Business, finance, etc. Samples in periodicals archive: The firm-fixed-price, cost reimbursable contract to support Afghanistan s national police force has a base period of nine months and two options that could extend the project up to six months and is worth up to $52. 1 The amount and nature of the profit incentive offered to the contractor for achieving or exceeding specified standards or goals. 2  The contract types are grouped into two broad categories: fixed-price contracts (see Subpart 16.2) and cost-reimbursement contracts (see Subpart 16.3). 1 A wide selection of contract types is available to the Government and contractors in order to provide needed flexibility in acquiring the large variety and volume of supplies and services required by agencies. 2  Contract types vary according to-. There are some forms of Cost Reimbursable (CR) contracts: Cost Plus Fee (CPF) or Cost Plus Percentage of Costs (CPPC). Requires the buyer to pay for all the costs plus a percentage of cost as a fee.  1 The specific contract types range from firm-fixed-price, in which the contractor has full responsibility for the performance costs and resulting profit (or loss), to cost-plus-fixed-fee, in which the contractor has minimal responsibility for the performance costs and the negotiated fee (profit) is fixed. 1 A wide selection of contract types is available to the Government and contractors in order to provide needed flexibility in acquiring the large variety and volume of supplies and services required by agencies. 2  Contract types vary according to-. A cost reimbursable contract (sometimes called a cost plus contract) is one in which the contractor is reimbursed the actual costs they incur in carrying out the works, plus an additional fee. Option E of the NEC3 Engineering and Construction Contract (ECC) is an example of a cost reimbursable contract. Others consider that a prime cost contract is one in which the cost of works packages (the prime cost) are reimbursed, but the main contractor takes a risk on staffing, overhead costs and profit which might be tendered on a fixed price. FAR 16.101. 1  A wide selection of contract types is available to the Government and contractors in order to provide needed flexibility in acquiring the large variety and volume of supplies and services required by agencies. 1 A wide selection of contract types is available to the Government and contractors in order to provide needed flexibility in acquiring the large variety and volume of supplies and services required by agencies. 2  Contract types vary according to-.
http://www.acronymfinder.com/Cost-Reimbursable-(contract-type)-(CR).html http://www.governmenttraininginc.com/pdfs/Cost-Reimbursable-TOC-Excerpt.pdf http://www.defense.gov/News/Contracts/Contract-View/Article/612901 http://www.acronymfinder.com/Cost-Reimbursable-(contract-type)-(CR).html http://www.navair.navy.mil/nawctsd/Resources/Library/Acqguide/contract-types.htm http://infusedmanagement.blogspot.com/2011/12/cr-tm-fp-what-are-these.html#! http://www.navair.navy.mil/nawctsd/Resources/Library/Acqguide/contract-types.htm http://www.designingbuildings.co.uk/wiki/Cost_reimbursable_contract http://www.navair.navy.mil/nawctsd/Resources/Library/Acqguide/contract-types.htm
what is a CR contract