Maryland Statutes
Part III - Contract Formation
Section 13-213 - Regulations on Price and Cost Principles

(a)    In accordance with Title 10, Subtitle 1 of the State Government Article, the Board shall adopt regulations on price and cost principles based on generally accepted accounting principles.
    (b)    The principles adopted by the Board shall be used:
        (1)    as guidelines for negotiations on:
            (i)    estimated costs or fixed prices;
            (ii)    price adjustments for contract modifications and change orders; and
            (iii)    settlements of terminated procurement contracts;
        (2)    to establish the allowability of costs under procurement contract provisions for the reimbursement of costs; and
        (3)    in any other situation that requires the establishment of the estimated or incurred costs of performing a procurement contract.

Structure Maryland Statutes