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Regulation 15 Target cost incentive fee (“TCIF”) adjustment

The circumstances specified for the purposes of section 16(1) are that—

(a)

the qualifying defence contract—

(i)

contains provision to the effect that the total price payable under the contract F1or component is subject to adjustment in accordance with section 16(1)(b); and

(ii)

specifies the matters which must be taken into account in determining the amount of that adjustment; and

(b)

the price payable under the contract F2or component was determined using the target pricing method.

Annotations

Textual amendments

F1

Words in reg. 15(a)(i) substituted (1.4.2024) by The Single Source Contract (Amendment) Regulations 2024 (S.I. 2024/420), regs. 1(2), 19(a)

F2

Words in reg. 15(b) substituted (1.4.2024) by The Single Source Contract (Amendment) Regulations 2024 (S.I. 2024/420), regs. 1(2), 19(b)

Notes on Chapter 2

Textual amendments

F1

Pt. 3 Ch. 2 heading inserted (1.4.2024) by The Single Source Contract (Amendment) Regulations 2024 (S.I. 2024/420), regs. 1(2), 12