48 CFR § 16.301-1 - 16.301-1 Description.

---
identifier: "/us/cfr/t48/s16.301-1"
source: "ecfr"
legal_status: "authoritative_unofficial"
title: "48 CFR § 16.301-1 - 16.301-1   Description."
title_number: 48
title_name: "Federal Acquisition Regulations System"
section_number: "16.301-1"
section_name: "16.301-1   Description."
chapter_number: 1
chapter_name: "FEDERAL ACQUISITION REGULATION"
subchapter_number: "C"
subchapter_name: "CONTRACTING METHODS AND CONTRACT TYPES"
part_number: "16"
part_name: "TYPES OF CONTRACTS"
positive_law: false
currency: "2026-04-05"
last_updated: "2026-04-05"
format_version: "1.1.0"
generator: "[email protected]"
authority: "41 U.S.C. 1121(b); 40 U.S.C. 121(c); 10 U.S.C. chapter 4 and 10 U.S.C. chapter 137 legacy provisions (see 10 U.S.C. 3016); and 51 U.S.C. 20113."
regulatory_source: "48 FR 42219, Sept. 19, 1983, unless otherwise noted."
cfr_part: "16"
---


# 16.301-1 16.301-1   Description.

Cost-reimbursement types of contracts provide for payment of allowable incurred costs, to the extent prescribed in the contract. These contracts establish an estimate of total cost for the purpose of obligating funds and establishing a ceiling that the contractor may not exceed (except at its own risk) without the approval of the contracting officer.