Hello and thank you for joining us for our first nine Episodes of Fun with the FAR Season 10!
Our next session will cover: FAR Parts 15.4 (Contract Pricing)

As we prepare for our tenth episode of Season 10, here are a few FAR Facts for us to think about

  • FAR 15.4 price negotiations and procedures should be used by contracting officers to determine the price reasonableness of modifications offered under a sealed bid contract. FAR 15.400.
  • As a general rule, a contracting officer will not need to obtain additional data to support the reasonableness of a contractor’s proposed price if “adequate competition” exists in a procurement. FAR 15.402(a)(2)(i).
  • The contracting officer is required to utilize “price analysis” techniques when certified cost or pricing data is not required to be disclosed. FAR 15.404-1(a)(2).
  • A prime contractor is required to conduct appropriate cost or price analysis to establish the reasonableness of proposed subcontractor pricing. FAR 15.404-3(b).