Section 3-123-21 - Applicable credits(a) Applicable credits are receipts or price reductions which offset or reduce expenditures allocable to contracts as direct or indirect costs. Examples include purchase discounts, rebates, allowances, recoveries or indemnification for losses, sale of scrap and surplus equipment and materials, adjustments for overpayments or erroneous charges, and income from employee recreational or incidental services and foods sales.(b) Credits shall be applied to reduce related direct or indirect costs.(c) The State shall be entitled to a cash refund if the related expenditures have been paid to the contractor under a cost-reimbursement type contract.[Eff 12/15/95; am and comp 11/17/97; comp 11/15/01; comp 11/25/02] (Auth: HRS § 103D-601) (Imp: HRS § 103D-601)