The Profit Formula for Non-Competitive Government Contracts was originally established in 1968, by Agreement between Government and Industry; this was followed by the establishment in 1969 of the Review Board for Government Contracts, to oversee the profit formula and its associated arrangements.
The document attached here, the Government Profit Formula and Associated Arrangements (GPFAA), represents the status of the agreement between the parties as it stands following implementation of the latest 'Annual General Review of the Profit Formula for Non-Competitive Government Contracts' (the 2011 Annual Review). To the extent that recommendations contained in subsequent GPF Reviews are accepted by the parties and implemented, the GPFAA will be updated and placed on this website.
Date: 16 Jun 09