Define: Final Rate
Final Rate means the established rate for a past period, adjusted based on incurred costs, audits, or other necessary changes.
Final Rate means the established rate for a past period, adjusted based on incurred costs, audits, or other necessary changes.
Relevant Circumstances
- When a provisional cost rate is adjusted after the period ends
- If audits or actual expenditure require recalculation of the rate
- Where retrospective rate-setting affects historic billing