; (B) the integrated project delivery contract is in a form that is approved by the Secretary; (C) the Secretary is satisfied that the contract will be executed pursuant to competitive procedures and contains a schematic design and any other material that the Secretary determines sufficient to approve the grant; (D) the Secretary is satisfied that the use of an integrated project delivery contract will be cost effective and expedite the project; (E) the Secretary is satisfied that there will be no conflict of interest; and (F) the Secretary is satisfied that the contract selection process will be open, fair, and objective and that not less than 2 sets of proposals will be submitted for each team entity under the selection process. (c) Reimbursement of costs Reimbursement of costs shall be based on transparent cost accounting, also known as open book cost accounting. The Secretary may reimburse a sponsor of an airport for any design or construction costs incurred before a grant is made pursuant to this section if— (1) the project funding is approved by the Secretary in advance; (2) the project is carried out in accordance with all administrative and statutory requirements under chapter 471 of such title 49; and (3) the project is carried out under such chapter after a grant agreement has been executed. (d) Integrated project delivery contract defined In this section, the term integrated project delivery contract means a single contract for the delivery of a whole project that— (1) includes, at a minimum, the owner, builder, and architect-engineer as parties that are subject to the terms of the contract; (2) aligns the interests of all the parties to the contract with respect to the project costs and project outcomes