Regulation 15 Target cost incentive fee (“TCIF”) adjustment
The circumstances specified for the purposes of section 16(1) are that—
the qualifying defence contract—
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
specifies the matters which must be taken into account in determining the amount of that adjustment; and
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