We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

Update For Gov't Contractors On Settled Suit Cost Recovery

Law360 (April 20, 2018, 1:03 PM EDT) -- Contractor legal costs, including the costs to settle third-party lawsuits (i.e., suits brought against a contractor by an individual or nongovernmental entity), are allowable if the costs are reasonable, allocable, consistent with the Cost Accounting Standards (or the Generally Accepted Accounting Principles), comply with the terms of the contract and are not limited by the cost principles of FAR Subpart 31.2. The primary cost principle relevant to settlement costs is FAR 31.205-47, which disallows contractor settlement costs for a very narrow category of third-party "proceedings" brought by relators...
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.