The requirement to submit a final indirect cost rate proposal, more commonly referred to as the “Incurred Cost Proposal or Incurred Cost Submission (ICS)" is contained in FAR clause 52.216-7(d)(2)(i) – Allowable Cost and Payment. It states, “The contractor shall submit an adequate final indirect cost rate proposal to the contracting officer (or cognizant federal agency official) and auditor within the 6-month period following the expiration of each of its fiscal years.”

For many contractors, the deadline for the next Incurred Cost Proposal is June 30th. Experts recommend getting started soon, to be sure that you have adequate time to prepare the submission. Are you ready?

Each year, Capital Edge works with numerous companies either developing, assisting with, or reviewing their final indirect cost rate proposals. Capital Edge has identified the major preparation pitfalls contractors face when developing their annual Incurred Cost Submission (ICS). 

Join Incurred Cost Submission expert, Chad Braley as he shares insight into some of the most common pitfalls.

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