Section 820-RICR-00-00-3.5 - Cost PrinciplesA. Cost and Pricing Principles. Except as otherwise provided by contract, the Corporation 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 Corporation; and c. 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.820 R.I. Code R. 820-RICR-00-00-3.5
Adopted effective 12/31/2018