Section 805-RICR-00-00-1.8 - Cost Principles SectionA. Cost and Pricing Principle. Except as otherwise provided by contract, the Chief Purchasing Officer shall use generally accepted accounting principles: 1. As guidelines in the negotiation of: a. Estimated costs for contracts when the absence of open market competition precludes the use of competitive sealed bidding;b. Adjustments for changes or modifications in contract performance requested by the Commission; andc. Settlements of contracts which have been terminated.2. To determine the allowability of incurred costs for the purposes of reimbursing costs under contract provisions which provide for the reimbursement of costs; and3. As appropriate in any other situation where determinations of the estimated or incurred costs of performing a contract may be required.805 R.I. Code R. 805-RICR-00-00-1.8