Exam (elaborations)
Contract Pricing - Part 15.
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- AS BIOLOGY paper 2 Solutions
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- AS BIOLOGY Paper 2 Solutions
Contract Pricing - Part 15.
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Contract Pricing - Part 15Definition of Certified Cost or Pricing Data - ANS-All facts that, as of the date of price
agreement, or, if applicable, an earlier date agreed upon between the parties that is as
close to practicable to the date of agreement on price, prudent buyers and sellers would
reasonably expect to affect price negotiations significantly.
3 Characteristics of Cost or Pricing Data - ANS-1. Factual, nonjudgmental; and are
verifiable
2. Do not indicate the accuracy of the prospective contractor's judgment about
estimated future costs or projections
3. Include the data/facts forming the basis for that judgment
Cost or Pricing Data includes (8 examples): - ANS-1. Vendor quotations
2. Nonrecurring costs
3. Information on changes in production methods and in production or purchasing
volume
4. Data supporting projections of business prospects and objectives and related
operational costs
5. Unit cost trends such as those associated with labor efficiency
6. Make or buy decisions
7. Estimated resources to attain business goals
8. Information on management decisions that could have significant bearing on costs
Pricing Policy - ANS-Contracting Officers shall
1. Purchase supplies and services from responsible sources at fair and reasonable
prices.
, 2. Obtain the type and quantity of data necessary to establish a fair and reasonable
price.
3. Price each contract separately and independently
4. Not include in a contract price any amount for a specified contingency to the extent
that the contract provides for a price adjustment based upon the occurrence of that
contingency
6 Facts on Truth in Negotiations Act (TINA) - ANS-1. Statute
2. Requires the contractor to be "truthful" when proposing costs and during negotiations
3. Ensures that the Government obtains data necessary to negotiate a fair and
reasonable price
4. Requires that data be certified as being accurate, current, and complete
5. Enables the Government to recoup costs due to defective pricing
6. Places the Government and the contractor on an equal footing
Situations requiring Certified Cost or Pricing Data - ANS-1. Actions exceeding the TINA
threshold of $750,000; unless an exception applies
2. The award of any negotiated contract
3. The award of a subcontract at any tier, if the contractor and each higher-tier
subcontractor were required to furnish cost or pricing data
4. The modification of any sealed bid or negotiated contract (price adjustment amounts
must consider both increases and decreases (absolute value))
5. Unless prohibited by an exception, the HCA, without power of delegation, may
authorize the contracting officer to obtain certified cost or pricing data for pricing actions
below the threshold provided the action exceeds the simplified acquisition threshold.
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