Contractor cost certification form 2025

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The document outlines the requirements for VDOT contractors to certify their final indirect cost rates in compliance with Federal Acquisition Regulations (FAR). It mandates that engineering and design firms must have their costs certified by an authorized official, ensuring all costs are allowable under applicable FAR principles. The document includes a certification form to be completed by a senior financial officer, confirming the accuracy and compliance of the proposed indirect cost rates.

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Got questions?

We have answers to the most popular questions from our customers. If you can't find an answer to your question, please contact us.

What is the standard general contractor fee?

Average general contractor rates Most general contractors do not charge an hourly rate. Instead, our research indicates that general contractors charge about 10 to 20% of a projects total construction costs.

What is the cost of a general contractor?

Contractors fees are $18,000 to $83,000 on average to build a house, or 10% to 20% of the total construction budget. A general contractors fees include overhead, profit, and a markup on materials and labor.

What is the cost certification?

Cost certification is a crucial process in construction projects, particularly in government-funded or financed developments. It involves the verification and validation of project costs to ensure accuracy, transparency, and compliance with contractual requirements and applicable regulations.

What are normal payment terms for a contractor?

Here are the most common contractor payment terms to know. Prepayment. Some contractors request a prepayment (such as 50% of the total fee) to be paid before they begin a job. Payment upon delivery. Net 10, 30, and 60. End of month.

What is a contracting certification?

The Federal Acquisition Certification in Contracting (FAC-C) Program is for contracting professionals in the federal government performing contracting and procurement activities and functions.