If you work in the Government acquisition world, this podcast is for you. (not just for Contracting Officers!)

When is a cost-reimbursable contract not completely reimbursable? The Government’s obligation is limited to the estimated cost and/or current funding listed in the contract. (which sounds obvious, but is easily misunderstood once performance begins)

Kevin and Paul discuss FAR 52.232-20 (Limitation of Cost) and FAR 52.232.22 (Limitation of Funds).  Learn the notification requirements and thresholds that warrant Industry’s awareness and why tracking and reporting expenditures are crucial to avoiding unpleasant impacts to contract performance due to lack of available funding.