This contract type may be used only when--
(a) The work required cannot otherwise be clearly defined;
(b) The required level of effort is identified and agreed upon in advance;
(c) There is reasonable assurance that the intended result cannot be achieved by expending less than the stipulated effort; and
(d) The contract price is $150,000 or less, unless approved by the chief of the contracting office. [48 FR 42219, Sept. 19, 1983, as amended at 75 FR 53133, Aug. 30, 2010]
Subpart 16.3_Cost-Reimbursement Contracts