42.701 Definition.

“Billing rate,” as used in this subpart, means an indirect cost rate-

           (1) Established temporarily for interim reimbursement of incurred indirect costs; and

           (2) Adjusted as necessary pending establishment of final indirect cost rates.

[48 FR 42370, Sept. 19, 1983, as amended at 59 FR 11387, Mar. 10, 1994; 63 FR 9064, Feb. 23, 1998; 66 FR 2133, Jan. 10, 2001]