N.M. Stat. § 13-1-47 : — PUBLIC PURCHASES AND PROPERTYPROCUREMENT —1-47 - Definition; cost reimbursement contract TEXT PDF "Cost reimbursement contract" means a contract which provides for a fee other than a fee based on a percentage of cost and under which a contractor is reimbursed for costs which are allowable and allocable in accordance with the contract terms. NMS § 13-1-47 Laws 1984, ch. 65, § 20.