CAS Exemption For Time & Material And Labor Hour Contracts
Client Alert | less than 1 min read | 07.06.07
To conform the Cost Accounting Standards regulations to the statutory provisions of the Services Acquisition Reform Act and to the recently amended provisions of the FAR, the CAS Board has issued regulations (72 Fed. Reg. 36367, July 3, 2007) exempting Time and Material (T&M) and Labor Hour (LH) contracts for commercial items from CAS coverage. Because the comparable FAR provisions require competition as a prerequisite to award of T&M and LH contracts for commercial items, the CAS exemption will apply only to competitively awarded contracts.
Insights
Client Alert | 5 min read | 02.23.26
UK Government Seeks Evidence on Ownership and Control in Financial Sanctions Regulations
The UK’s Office of Financial Sanctions Implementation (OFSI) has launched a call for evidence concerning the "ownership and control" test within UK financial sanctions. The call for evidence, running until 11:59 p.m. on 13 April 2026, seeks stakeholder views on the challenges and implementation of the "control" limb, with particular focus on its hypothetical element.
Client Alert | 4 min read | 02.20.26
Client Alert | 7 min read | 02.20.26
Section 5949 Proposed Rule Puts the FAR Council's Chips on the Table
Client Alert | 5 min read | 02.20.26
Trump Administration Pursues MFN Pricing for Prescription Drugs
