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PART 3 U.K.Pricing of contracts

Target cost incentive fee (“TCIF”) adjustment U.K.

15.  The circumstances specified for the purposes of section 16(1) are that—

(a) the qualifying defence contract—

(i) contains provision to the effect that the total price payable under the contract (or any defined component of the contract) is subject to adjustment in accordance with section 16(1)(b); and

(ii) specifies the matters which must be taken into account in determining the amount of that adjustment; and

(b) the price payable under the contract (or those defined components) was determined using the target pricing method.