Statutes > New Mexico Statutes > Chapter 13 - Public Purchases and Property. > Article 1 - Procurement, 13-1-1 through 13-1-199. > Section 13-1-47 - Definition; cost reimbursement contract.

Section 13-1-47 - Definition; cost reimbursement contract.

13-1-47. Definition; cost reimbursement contract.

"Cost reimbursement contract" means a contract which provides for a fee other than a fee based on a percentage of cost and under which a contractor is reimbursed for costs which are allowable and allocable in accordance with the contract terms.