49.303-1 Submission of settlement proposal
Source: FAR 49.303-1 on acquisition.gov
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.
The contractor shall submit a final settlement proposal covering unvouchered costs and any proposed fee to within 1 year from the effective date of termination, unless the period is extended by the TCO. The contractor shall use the form prescribed in 49.602-1, unless the TCO authorizes otherwise. The proposal shall not include costs that have been-
(a) Finally disallowed by the contracting officer; or
(b) Previously vouchered and formally questioned by the Government but not yet decided as to allowability.