What does ODC mean in contracts?
What does ODC mean in contracts? For these reasons, the Program Office requests a T&M contract with an Other Direct Cost line item (ODC CLIN) in which the contractor would be authorized to purchase whatever IT products are needed when the requirement is identified by the Program Office. No specific IT products will be identified in the contract. Click to see full answer.
What does a contractor for the government do?
Government contractors provide products and services for local, state and federal governments. Government agencies offer contracts to businesses across all industries. For example, private contractors fill a variety of needs in medical services, research and development, utilities and construction, among other areas.
What does ODC stand for in cost?
ODC stands for Other Direct Costs. Suggest new definition. This definition appears very frequently and is found in the following Acronym Finder categories: Business, finance, etc. See other definitions of ODC. Other Resources: We have 170 other meanings of ODC in our Acronym Attic. Link/Page Citation.
What is ODC LP Beaumont TX?
Beaumont’s only locally owned full-service diagnostic imaging center, The ODC, also known as The Outpatient Diagnostic Center, represents a return to the concept of personalized individual care delivered by highly qualified, respected and experienced radiologists of the Beaumont medical community. ... Beaumont, Texas 77701 [email protected].
What is included in ODC?
An ODC is a cost that can be identified specifically with a final cost objective that is not treated as either a direct material or direct labor cost. Examples of ODCs may include travel, special tooling and test equipment, computer services, consultant services, preservation, and packaging.
What are examples of other direct costs?
Other Direct Costs means those grant costs that can be directly identified as grant-related. These include travel, equipment, supplies, postage, advertising, computer charges, telecommunications, office lease and utility costs, vehicle charges, printing, and conference and training registration.
What is a direct cost far?
Here are FAR 2.101 Definitions: Direct cost means any cost that is identified specifically with a particular final cost objective. Direct costs are not limited to items that are incorporated in the end product as material or labour. Costs identified specifically with a contract are direct costs of that contract.
Is Subcontractor cost a direct cost?
Direct costs are costs that can easily be directly identifiable with or attributable to a particular job. Examples of these costs include direct materials, direct labor, and subcontractor costs.
Which of the following is not a direct cost?
Insurance cost is not a direct cost. Explanation for the answer: Direct costs are related to producing a good or service. In simple words, Direct cost is a cost which is directly associated with the product.
Is salary a direct or indirect cost?
Indirect costsIndirect costs apply to more the just one business activity. By that, it means that it cannot be assigned to a specific product, service, or business activity. Common examples include rent, the cost of utilities, salaries and wages of employees not directly involved in the manufacturing of a product, etc.
What are considered other direct costs in government contracts?
Other direct costs refer to expenditures that are allowed as a direct charge to a sponsored project and are specifically associated, or incident, to the project's performance. They can be directly assigned to the project with a high degree of accuracy and the expense benefits the project.
How do you determine when a cost is allowable?
(a) A cost is allowable only when the cost complies with all of the following requirements: (1) Reasonableness. (2) Allocability. (3) Standards promulgated by the CAS Board, if applicable, otherwise, generally accepted accounting principles and practices appropriate to the circumstances.
Is G&A an other direct cost?
In government proposals, contracts, and agency billing, G&A is typically applied as an indirect expense markup to direct billable non-labor costs such as Travel and Other Direct Costs (ODCs).
What are 3 examples of construction indirect costs?
The three most common types of indirect costs include:Overhead – Job site costs, home office costs and general conditions. Project Managers, Superintendents and other Support Staff. Office Trailers, Equipment and Supplies. ... Equipment – Owned equipment and small tools. Depreciation. ... Labor Burden. FICA Taxes.
Is a subcontractor considered direct labor?
The guidance notes that contractors may treat purchased labor as either other direct costs (e.g. subcontractors) or as direct labor with the excess over employee labor charged to overhead.
What are examples of direct costs in construction?
Material, labor and equipment prices are all direct costs, as are subcontractor costs. They are also sometimes called “bare” or “unburdened” costs. Examples of direct costs include all on-site personnel, even those without direct responsibility for structure being built, like security guards.
What are 4 indirect costs examples?
Examples of indirect costs are accounting and legal expenses, administrative salaries, office expenses, rent, security expenses, telephone expenses, and utilities.
WHAT is AN Other direct cost ODC?
Other Direct Costs (ODCs) are expenses other than the direct labor hours. listed in the vendor's pricelist. All ODCs proposed must be directly. related to a service being offered under the Professional Services Schedule and can only be purchased in conjunction with the Schedule service.
What is direct cost and indirect cost with examples?
Examples of Direct Costs and Indirect Costs Examples of direct costs are direct labor, direct materials, commissions, piece rate wages, and manufacturing supplies. Examples of indirect costs are production supervision salaries, quality control costs, insurance, and depreciation.
What are the example of indirect cost?
Indirect costs include costs which are frequently referred to as overhead expenses (for example, rent and utilities) and general and administrative expenses (for example, officers' salaries, accounting department costs and personnel department costs).
What is an ODC?
Other Direct Costs means Actual Direct Costs other than salaries and fringe benefits of direct labor. Other Direct Costs. (“ ODC ”) means costs for goods and services pre -approved by the County that may be incurred by the Consultant to complete the Work.
What is ODC in construction?
Other Direct Costs. ( ODC ’s) means actual direct costs, other than Direct Labor costs of Contractor or subcontractor; or other sub- contracted services and reimbursable costs approved by the Director in advance.
What is ODC billing?
ODCs shall be billed at cost, without markup and shall include the following categories: Other Direct Costs. ( ODC ’s) means actual direct costs, other than Direct Labor costs of Contractor or subcontractor; or other sub- contracted services and reimbursable costs approved by the Director in advance.
What are other direct costs?
Other Direct Costs means costs normally incurred in the operation of a business, such as postage, telephone and internet charges, office supplies and overhead.
What are some examples of direct costs?
Some examples of Other Direct Costs are subcontracts, equipment (company owned or rented), unit rate items and reimbursable expenses (travel, computer charges, reproduction, etc.).
Anonymouse
Scenario: A Program Office requires a contract for various cyber security services on a labor hour basis. The Government’s cost estimate for services is $1M/year. The anticipated placement procedures are FAR 12 and 13.5. The Program Office also requires occasional IT products to be purchased in support of these services.
Anonymouse
Thank you for your response to my question. This is very good information about line items that I had not considered and I will definitely alter my approach to comply with Subpart 4.10 requirements. My experience with T&M is limited (it must show with my sloppy use of terminology).
Guest Vern Edwards
In a "true" T&M contract for commercial items, using the clause at FAR 52.212-4, Alt. I, you would have one contract line item. The unit of delivery would be "Job" (JO), and the line item would include a ceiling price. Prime and subcontractor labor rates could be stipulated in informational subline items or elsewhere in the contract.
FrankJon
Establish a line item for"additional IT products (TBD)", materials, or data, etc., if you like, and price the line item in accordance with your needs.
Guest Vern Edwards
I envision a situation in which the customer places a lump of money there and deals directly with the contractor (or, alternatively, with a standard, "customer service"-oriented CO), placing orders for any items remotely related to the purpose of the contract, with the intention of circumventing the FAR for these purchases.
