§ 13-213
105 words·~1 min read·
/md/state-finance-and-procurement/13-213·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§13–213.
(a)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)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.