Terms Used In 5 Guam Code Ann. § 5375

  • Contract: A legal written agreement that becomes binding when signed.
The Policy Office shall promulgate regulations 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.

SOURCE: GC § 6970. MPC § 7-101.

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ARTICLE 8
SUPPLY MANAGEMENT