WILLIAM DONALD SCHAEFER, Governor

Ch. 48

REVISOR'S NOTE: This section is new language derived
without substantive change from former SF § 11-117.

In subsection (a)(l)(i) of this section, the words "of
a proposal" are added to clarify that a "final
evaluation" refers to a "proposal".

Defined terms: "Bid" § 11-101
"Person" § 11-101 "Procurement" § 11-101
"Procurement contract" § 11-101
"Procurement officer" § 11-101
"Proposal" § 11-101

13-211. RESERVED.
13-212. RESERVED.

PART III. CONTRACT FORMATION.
13-213. REGULATIONS ON PRICE AND COST PRINCIPLES.

(A)  ADOPTION BY BOARD.

IN ACCORDANCE WITH TITLE 10, SUBTITLE 1 OF    THE STATE

GOVERNMENT ARTICLE, THE BOARD SHALL ADOPT REGULATIONS    ON PRICE

AND COST PRINCIPLES BASED ON GENERALLY ACCEPTED    ACCOUNTING
PRINCIPLES.

(B)  USES OF PRINCIPLES.

THE PRINCIPLES ADOPTED BY THE BOARD SHALL BE USED:

(1)  AS GUIDELINES FOR NEGOTIATIONS ON:

(I)  ESTIMATED COSTS OR FIXED PRICES;

(II)  PRICE ADJUSTMENTS FOR CONTRACT
MODIFICATIONS AND CHANGE ORDERS; AND

(III)  SETTLEMENTS OF TERMINATED PROCUREMENT
CONTRACTS;

(2)  TO ESTABLISH THE ALLOWABILITY OF COSTS UNDER
PROCUREMENT CONTRACT PROVISIONS FOR THE REIMBURSEMENT OF COSTS;
AND

(3)  IN ANY OTHER SITUATION THAT REQUIRES THE
ESTABLISHMENT OF THE ESTIMATED OR INCURRED COSTS OF PERFORMING A
PROCUREMENT CONTRACT.

REVISOR'S NOTE: This section is new language derived
without substantive change from former SF § 11-128.

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