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Government Operations: [Comments on Proposed Addition to FAR]

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Report Type Reports and Testimonies
Report Date Nov. 21, 1985
Report No. B-220943
Subject
Summary:

GAO commented on a proposal to add a Federal Acquisition Regulation (FAR) to the FAR contract cost principles. GAO had no objection to the proposed addition which states that premiums for retroactive or backdated insurance written to cover occurred and known losses are not allowable as costs that may be recovered under government contracts.

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