Expenditure-based Award Law and Legal Definition

According to 32 CFR 37.1285 (Title 32 - National Defense; Subtitle A - Department Of Defense; Chapter I - Office Of The Secretary Of Defense; Subchapter C - DOD Grant And Agreement Regulations; Part 37 - Technology Investment Agreements; Subpart J - Definitions Of Terms Used In This Part), A Federal Government contract or assistance award for which the amounts of interim payments or the total amount ultimately paid (i.e., the sum of interim payments and final payment) are subject to redetermination or adjustment, based on the amounts expended by the recipient in carrying out the purposes for which the award was made. Most Federal Government grants and cooperative agreements are expenditure-based awards.