Section 3-123-23 - Use of federal cost principles(a) In dealing with contractors operating according to federal cost principles, Federal Acquisition Regulations, the procurement officer, after notifying the contractor, may use the federal cost principles as guidance in contract negotiations, subject to subsection (b).(b) All requirements set forth in federal assistance instruments applicable to contracts let by the State under a federal assistance program must be satisfied. Therefore, to the extent that the cost principles which are specified in the assistance instrument conflict with these cost principles, the federal cost principles shall control.[Eff 12/15/95; 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)