Easily Insert Cross in the Incentive Agreement

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How to Insert Cross in the Incentive Agreement

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okay so first of all this is the document that I have been working on in the previous videos and in this video Im going to show you how to make cross references in Word so Im going to go to references and then cross reference and then Im going to select figure and Im going to select only label and number and then insert and close and you can see it has inserted the label figure one and if I hold down ctrl and click on it it will take me to figure 1 in the document and I can also put this in brackets if I want to or I can manually edit this to say fig dot 1 and then if I hold down ctrl and click on it it will still take me to figure 1 in the document so I can change this to say whatever I want now another way of doing this is to go to insert and select cross reference here instead and then there are a number of other options for the reference type and also for the text to insert I am just going to show a couple more examples of this so if I select above slash below and then insert a

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What is the difference between an incentive fee and an award fee?

Award Fee: The amount is not predetermined in the contract and the fee is determined by the owner subjectively evaluating the contractors performance. Incentive Fee: The amount is predetermined in the contract based on achieving certain objectives agreed to in the contract. Hope this helps.

What is an incentive agreement?

Incentive contracts are designed to obtain specific acquisition objectives by- (1) Establishing reasonable and attainable targets that are clearly communicated to the contractor; and. (2) Including appropriate incentive arrangements designed to- (i) motivate contractor efforts that might not otherwise be emphasized;

How does a cost-plus-incentive-fee contract differ from a fixed-price incentive firm contract?

A cost-plus-incentive-fee contract is a cost-reimbursement contract that incentivizes the contractor to bring in the project under budget. A cost-plus-fixed-fee contract reimburses costs and pays the contractor a fee that is negotiated prior to signing the contract.

What is the inspection clause for fixed-price contracts?

(c) The Government has the right to inspect and test all services called for by the contract, to the extent practicable at all times and places during the term of the contract. The Government shall perform inspections and tests in a manner that will not unduly delay the work.

What is an award fee contract?

Definition. A contract where the contractor recovers actual costs incurred for completed work and is awarded a fee based on performance. Actual costs include general administration, overhead, labor and fringe benefits, other direct costs, and materials, including mark-up. DOE G 430.1-1, Cost Estimating Guide.

Is it possible or even appropriate to ever combine the two types of incentive contracts such that both incentive and award fees may be earned on the same contract?

In the cost-reimbursement contracts, the contractor is reimbursed by the government for the allocable, allowable and reasonable costs of performance (Rumbaugh, 2010). It is possible to combine the two types of incentive contracts that both incentive and award fees many be earned on the same contract.

What is the use of incentive contracts?

Through incentives, a contractor can earn more profit/fee by reducing cost, exceeding the performance objectives or achieving the desired schedule. Positive incentives provide reasonable profit opportunities for offerors, without putting them at unnecessary cost risk during performance of the contract.

How do incentive contracts and award fee contracts contrast?

Incentives contracts are distinguishable from Award Fee contracts because they utilize objective criteria. The objective criteria allow the incentive(s) to be communicated through a quantitative plan comprised of a target cost, target profit/fee, and profit/fee adjustment formula.

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