Cost-plus-fixed-fee Contracts: Hearing Before the Committee on Naval Affairs, United States Senate, Seventy-seventh Congress, First Session, Relative to Cost-plus-fixed-fee Contracts, June 30, 1941 |
From inside the book
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Page 2
... profit . The degree of control and supervision of those contracts was undoubtedly the best that could be afforded at that time . When I presented the recommendation to this committee that we be permitted to make cost - plus - fixed ...
... profit . The degree of control and supervision of those contracts was undoubtedly the best that could be afforded at that time . When I presented the recommendation to this committee that we be permitted to make cost - plus - fixed ...
Page 3
... profit for the contractor or indicates a certain loss , this seeming ad- vantage is often turned into a disadvantage on account of skimping by the con- tractor on the work in an effort to prevent a loss or to make a profit . Work taken ...
... profit for the contractor or indicates a certain loss , this seeming ad- vantage is often turned into a disadvantage on account of skimping by the con- tractor on the work in an effort to prevent a loss or to make a profit . Work taken ...
Page 5
... profit as he anticipated . But he is not responsible for the accuracy of the original estimate . On the other hand , suppose he had to take that gamble on a com- petitive bidding contract . He takes that building and he estimates the ...
... profit as he anticipated . But he is not responsible for the accuracy of the original estimate . On the other hand , suppose he had to take that gamble on a com- petitive bidding contract . He takes that building and he estimates the ...
Page 7
... profit from his equipment . His equipment must be rented to us at what we consider to be the cost to the contractor . Senator BYRD . Admiral , excuse me there , sir . Admiral MOREELL . Yes , sir . Senator BYRD .. The 42 - percent fixed ...
... profit from his equipment . His equipment must be rented to us at what we consider to be the cost to the contractor . Senator BYRD . Admiral , excuse me there , sir . Admiral MOREELL . Yes , sir . Senator BYRD .. The 42 - percent fixed ...
Page 8
... profit to the contractor . Senator BYRD . Absorbs interest on money ? You mean the con- tractor has to advance the money ? Admiral MOREELL . Yes , sir . I have here now this book which I mentioned before , Manual of Accounting ...
... profit to the contractor . Senator BYRD . Absorbs interest on money ? You mean the con- tractor has to advance the money ? Admiral MOREELL . Yes , sir . I have here now this book which I mentioned before , Manual of Accounting ...
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Common terms and phrases
4½ percent accomplishment actual net cost Admiral MOREELL Alaska amount approval Aviation award basis building Bureau of Yards central office organization CHAIRMAN Chief of Bureau Civil Engineer Corps committee competitive bidding complete Comptroller construction contingent fees Contracting Officer contractor cost-plus contract cost-plus-a-fixed-fee COST-PLUS-FIXED-FEE CONTRACTS determined dump scow employees estimated cost executive facilities fee Fee fixed fee furnished Government hereof items of plant JOHNSTON ISLAND July Kaneohe Bay labor materials ment Midway Island months Naval Air Station Navy Department Navy Yard Negotiated contracts Officer in Charge operations otherwise authorized Pacific islands paid PALMYRA ISLAND parties payment personnel Philadelphia Navy Yard plans and specifications plant and equipment plant expense procedure profit projects provisions of ARTICLE reimburse Senator BONE Senator BYRD Senator ELLENDER Senator LUCAS shown in column submitted tion tract tractor United Western Pacific Yards and Docks York Navy Yard
Popular passages
Page 56 - ... supplies as have been mined or produced in the United States, and only such manufactured articles, materials, and supplies as have been manufactured in the United States...
Page 55 - District, which may require or involve the employment of laborers or mechanics shall contain a provision that no laborer or mechanic doing any part of the work contemplated by the contract, in the employ of the contractor or any sub-contractor contractIng for any part of said work contemplated, shall be required or permitted to work more than eight hours in any one calendar day...
Page 52 - Anything mentioned in the specifications and not shown on the drawings, or shown on the drawings and not mentioned in the specifications, shall be of like effect as if shown or mentioned in both. In case of difference between drawings and specifications, the specifications shall govern.
Page 60 - This warranty shall not apply to commissions payable by Contractors upon contracts or sales secured or made through bona fide established commercial or selling agencies maintained by the Contractor for the purpose of securing business.
Page 55 - ... for each laborer or mechanic for every calendar day in which such employee is required or permitted to labor more than eight hours upon said work without receiving compensation computed in accordance with this article, and all penalties thus imposed shall be withheld for the use and benefit of the Government...
Page 56 - States, or if articles, materials, or supplies of the class or kind to be used or the articles, materials, or supplies from which they are manufactured are not mined, produced, or manufactured, as the case may be, in the United States in sufficient and reasonably available commercial quantities and of a satisfactory quality.
Page 57 - If such changes cause an increase or decrease in the amount due under this contract, or in the time required for its performance, an equitable adjustment shall be made and the contract shall be modified in writing accordingly. Any claim for adjustment under this article must be asserted within...
Page 33 - A contract must be construed as a whole, and the intention of the parties is to be collected from the entire instrument, and not from detached portions, it being necessary to consider all of its parts in order to determine the meaning of any particular part, as well as of the whole.
Page 59 - Disputes. Except as otherwise specifically provided In this contract, all disputes concerning questions of fact arising under this contract shall be decided by the contracting officer subject to written appeal by the contractor within 30 days to the head of the department concerned or his duly authorized representative, whose decision shall be final and conclusive upon the parties thereto. In the meantime the contractor shall diligently proceed with the work as directed.
Page 65 - In witness whereof, the parties hereto have executed this contract as of the day and year first above written. THE UNITED STATES OF AMERICA, By...