Purpose.

(a) Establishing final indirect cost rates under this subpart provides— (1) Uniformity of approach with a contractor when more than one contract or agency is involved; (2) Economy of administration; and (3) Timely settlement under cost-reimbursement contracts. (b) Establishing billing rates provides a method for interim reimbursement of indirect costs at estimated rates subject to adjustment during contract performance and at the time the final indirect cost rates are established.