CFR 2-200.433-2014 Grants and agreements. Part200:Uniform administrative requirements, cost prin ciples, and audit requirements for federal awards. SubpartE:Cost principles. Section200.433:Contingency provisions.
(a) Contingency is that part of a budget estimate of future costs (typically of large construction projects, IT systems, or other items as approved by the Federal awarding agency) which is associated with possible events or conditions arising from causes the precise outcome of which is indeterminable at the time of estimate, and that experience shows will likely result, in aggregate, in additional costs for the approved activity or project. Amounts for major project scope changes, unforeseen risks, or extraordinary events may not be included.
CFR 2-200.433-2014 history
2014CFR 2-200.433-2014 Grants and agreements. Part200:Uniform administrative requirements, cost prin ciples, and audit requirements for federal awards. SubpartE:Cost principles. Section200.433:Contingency provisions.
2013CFR 2-200.433-2013 Grants and Agreements. Part200:Uniform administrative requirements, cost principles,and audit requirements for Federal awards. Section200.433:Contingency provisions.