Contracts executed and performed entirely outside the United States – CAS now applies!
August 26, 2011
The Office of Federal Procurement Policy (OFPP), Cost Accounting Standards (CAS) Board, has issued a final rule eliminating the exemption regarding Cost Accounting Standards for contracts executed and performed entirely outside the United States, its territories, and possessions. 76 Fed. Reg. 49365-49368 (Aug. 10, 2011). The new rule takes effect October 11, 2011.
The overseas exemption was…