§ 1552.216-74 — 1552.216-74 Payment Of Fee

As prescribed in 1516.307(b), insert the following clause:

(a) The term fee in this clause refers to either the fixed fee under a cost-plus-fixed-fee type contract, or the base fee under a cost-plus-award-fee type contract.

(b) The Government will make provisional fee payments on the basis of percentage of work completed. Percentage of work completed is the ratio of direct labor hours performed to the direct labor hours set forth in clause 1552.211-73, Level of Effort—Cost-Reimbursement Term Contract.