NASA Finalizes New Rule For Contractor Award Fees

Law360, New York (August 3, 2011, 6:11 PM EDT) -- NASA adopted a final rule Tuesday incorporating new requirements intended to strengthen the link between contractor bonus payments and contract performance.

The rule was established as an interim rule in February, and codifies NASA's efforts to implement portions of the 2007 and 2009 Defense Authorization acts, which require agencies to better oversee the incentive fee awards paid to contractors. The regulation applies to cost-plus-award-fee contracts, under which contractors are reimbursed for allowed costs and paid a fee based on the contractor's work performance.

The rule would...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.