Section 3-123-1 - Applicability of cost principles(a) The cost principles and procedures in this chapter may be used as guidance in: (1) The establishment of cost estimates under contracts where the award may not be based on adequate competition, as in subchapters 6, 7, and 9, chapter 3-122;(2) The establishment of cost adjustments for contract changes including contracts that have been let on the basis of competitive sealed bidding or otherwise based on adequate competition;(3) The cost of termination for convenience settlements; and(4) Any other situation in which cost analysis is used.(b) These cost principles are not applicable to: (1) Contracts awarded on the basis of competitive sealed bidding or based on adequate price competition;(2) Costs which are fixed by law or regulation; and(3) Costs which are based on established catalogue prices or market prices as defined in section 3-120-2 and section 103D-104, HRS.[Eff 12/15/95; am and comp 11/17/97; am and comp 11/15/01; am and comp 11/25/02] (Auth: HRS §§ 103D-202, 103D-601) (Imp: HRS § 103D-601)