Necessary Response Cost

{
  "id": "MLC-T-ENV-018356",
  "term": "Necessary Response Cost",
  "field": "Environment",
  "definition": "1. Costs determined to be:(1) Required (based upon the site-specific circumstances);(2) Reasonable (nature and amount do not exceed that estimated or which would be incurred by a prudent person);(3) Allocable (incurred specifically for the site at issue); and(4) Otherwise allowable (consistent with the limitations and exclusions under the appropriate Federal cost principles). See OMB Circular A-122 (non-profit organizations); OMB Circular A-87 (States and political subdivisions); and 48 CFR part 31, subparts 31.1 and 31.2 (profit-making organizations).\n\n2. “Necessary response costs” as required by section 111(a)(2) of CERCLA for Fund reimbursement of a preauthorized response action.",
  "references": [
    "40 CFR 307.14 (CFR 2013)"
  ],
  "url": "https://mlchart.com/terminology/environment/necessary-response-cost/"
}