49.303-1
Submission of settlement proposal
Contractors must submit a final settlement proposal for unvouchered costs and proposed fees within one year of contract termination, using the required form and excluding disallowed or questioned costs.
Overview
FAR 49.303-1 outlines the requirements for contractors to submit a final settlement proposal after contract termination, specifically addressing unvouchered costs and proposed fees. Contractors must submit this proposal within one year from the effective date of termination, unless an extension is granted by the Termination Contracting Officer (TCO). The proposal must be prepared using the prescribed form (referenced in FAR 49.602-1), unless the TCO authorizes a different format. Importantly, the proposal must not include costs that have been finally disallowed by the contracting officer or costs that have been previously vouchered and are still under government review for allowability.