Official text of 1552.216-74
As prescribed in 1516.307(b), insert the following clause:
Payment of Fee (MAY 1991)
(a) The term fee in this clause refers to either the fixed fee under a cost-plus-fixed-fee type contract, or the base fee under a cost-plus-award-fee type contract.
(b) The Government will make provisional fee payments on the basis of percentage of work completed. Percentage of work completed is the ratio of direct labor hours performed to the direct labor hours set forth in clause 1552.211-73, Level of Effort—Cost-Reimbursement Term Contract.
(End of clause)
Where it's prescribed
As prescribed in 1516.307(b), insert the following clause:
Verifying this text
The text above is reproduced verbatim from GSA's published source files for the Environmental Protection Agency supplement. The controlling version is the one in the Code of Federal Regulations: 1552.216-74 on eCFR.