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16.207-3 Limitations.

16.207-3 Limitations.

This contract type may be used only when-

  1. (a) The work required cannot otherwise be clearly defined;

  2. (b) The required level of effort is identified and agreed upon in advance;

  3. (c) There is reasonable assurance that the intended result cannot be achieved by expending less than the stipulated effort; and

  4. (d) The contract price is $150,000 or less, unless approved by the chief of the contracting office.