Hawaii Revised Statutes 103D-601 – Cost principles rules required
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Terms Used In Hawaii Revised Statutes 103D-601
- Contract: means all types of agreements, regardless of what they may be called, for the procurement or disposal of goods or services, or for construction. See Hawaii Revised Statutes 103D-104
- Contract: A legal written agreement that becomes binding when signed.
- Policy board: means the procurement policy board created in § 103D-201. See Hawaii Revised Statutes 103D-104
- Procurement: means buying, purchasing, renting, leasing, or otherwise acquiring any good, service, or construction. See Hawaii Revised Statutes 103D-104
The policy board shall adopt rules setting forth cost principles which shall be used to determine the allowability of incurred costs for the purpose of reimbursing costs under contract provisions which provide for the reimbursement of costs, provided that if a written determination is approved at a level above the procurement officer, such cost principles may be modified by contract.