Cost Principles
/ˈkɒst ˈprɪnsəpəlz/
Definitions
- (n.) Rules and standards used to determine allowable costs under government contracts and grants.
The grant award was subject to federal cost principles to ensure proper use of funds.
Forms
- cost principles
- cost principle
Related terms
See also
Commentary
Cost principles provide a framework to classify and justify expenditures, essential for compliance in public funding contexts.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.