Description
Course Overview
This course discusses provisional billing rates and their importance. FAR 42.704 Billing Rates addresses the government’s regulation on establishing provisional billing rates. Provisional billing rates are used to bill indirect costs on vouchers for cost-type contracts, the materials portion of T&M contracts, and progress payment requests on fixed-price contracts. Contractors should be proactive and submit proposed provisional indirect rate information to the government prior to the beginning of the calendar or fiscal year. If the contractor is negligent and does not submit provisional rate information for acceptance, the government can unilaterally establish the provisional billing rates for a contractor. This course also addresses some of the information that may be submitted or requested by the government when establishing provisional billing rates, as well as the need for contractors to monitor indirect rates on a regular basis and update them, if necessary.
Course Objectives
- Define provisional billing rates
- List the types of contracts where provisional billing rates are used
- Identify who establishes provisional billing rates
- Identify who is responsible for submitting indirect rates for approval
- Determine the type of information that may be requested by the government
- Explain the importance of monitoring provisional billing rates during the year and updating them, if necessary
Course Run Time
- 25 minutes
CPE Credit
- CPE is not offered for this LMS training course module or the LMS training course package.
- CPE credit is available using other training methods (Custom Training, In Person Training (Group), In Person Training (Individual), Live Webinar Training).
