Results of the analysis may be used in performance risk assessments and responsibility determinations. A fair and reasonable price does not require that agreement be reached on every element of cost, nor is it mandatory that the agreed price be within the contracting officers initial negotiation position. Purpose. Depending upon the estimated dollar value of the acquisition: the contracting officer or the source selection authority. Contracting Officer must not: chapter 35). Competition in Contracting Act (CICA) There are also certain dollar thresholds that trigger specialised treatment or procedures under the FAR. (2) A description of the acquisition, including appropriate identifying numbers (e.g., RFP No.). When obtaining data from the offeror is necessary, unless an exception under 15.403-1(b)(1) or (2) applies, such data submitted by the offeror shall include, at a minimum, appropriate data on the prices at which the same or similar items have been sold previously, adequate for evaluating the reasonableness of the price. 3701(2) and 41 U.S.C.3501(a)(3)). Information made available under this paragraph shall be limited to that used as the basis for the prime contract price reduction. Depending upon the estimated dollar value of the acquisition: the contracting officer or the source selection authority. Quantity deleted from inventory 11. The audit office shall send the audit report, or otherwise transmit the audit recommendations, directly to the contracting officer. 12,816. (d) Change order authority.Contracting officers may authorize COR change order authority in accordance with the limitations in . (viii) Any other information the contracting officer requires in order to evaluate the program. Its title or full text. Normally, make-or-buy programs should not include items or work efforts estimated to cost less than 1 percent of the total estimated contract price or any minimum dollar amount set by the agency. What is Other than Full and Open Competition? On January 1, 2012, Solis Co. issued its 10% bonds in the face amount of $4,000,000, which mature on January 1, 2022. If there has been a significant time lapse between the last acquisition and the present one, if the terms and conditions of the acquisition are significantly different, or if the reasonableness of the prior price is uncertain, then the prior price may not be a valid basis for comparison. Such information shall be used to determine whether the intrinsic value of an item has been distorted through application of overhead and whether such items should be considered for breakout. What is the Preferred Method to describe requirements? -Concurrent contracts 2. What are policies associated with Justification and Approval (J&A)? It is not right to use the government card for such purchases. This does not relieve the contracting officer from the responsibility to analyze the contractors submission, including subcontractors certified cost or pricing data. This includes requiring data from an offeror to support a cost realism analysis; (iii) Consider whether cost data are necessary to determine a fair and reasonable price when there is not adequate price competition; (iv) Require that the data submitted by the offeror include, at a minimum, appropriate data on the prices at which the same item or similar items have previously been sold, adequate for determining the reasonableness of the price unless an exception under 15.403-1(b)(1) or (2) applies; and. Invitation for Bid - Sealed Bidding - FAR Part 14 For acquisitions with a total estimated value of $100M or more, the SSA shall be an individual other than the PCO. Any other data that may be pertinent to an assessment of the offerors ability to accomplish the technical requirements or to the cost or price analysis of the service or product being proposed should also be included in the analysis. (1) Cost realism analysis is the process of independently reviewing and evaluating specific elements of each offerors proposed cost estimate to determine whether the estimated proposed cost elements are realistic for the work to be performed; reflect a clear understanding of the requirements; and are consistent with the unique methods of performance and materials described in the offerors technical proposal. How many "subparts" does the FAR contain? What do the parents perceive as their role to the Day Care worker? (b) The contracting officer shall establish prenegotiation objectives before the negotiation of any pricing action. Central banks attempt to limit inflation . Change in ROE of combined firm. (i) Some initial production has already taken place; (ii) The contract will be awarded on a sole source basis; (iii) There are future year production requirements for substantial quantities of like items; (iv) The items being acquired have a history of increasing costs; (v) The work is sufficiently defined to permit an effective analysis and major changes are unlikely; (vi) Sufficient time is available to plan and adequately conduct the should-cost review; and. The choice of contract type to be used in a solicitation depends on the: The COR will be evaluating a contractor's performance using the ____, As a COR, establishing a joint partnership with your contacting officer is critical for ensuring mission success, as is establishing a professional relationship with your contractor. The estimated cost of equity for Glaxo in December 1994 was Cost of Equity = 8.00% + 1.10 (5.50%) = 14.05% This is the cost of equity, if cash flows are estimated in dollars. - = guessed but unknown whether correct or not. The ARB Coordinator will schedule and facilitate ARB The phases of the services acquisition process are. Law The Federal Government's authority to enter into contracts derives from the U.S. Constitution, which defines its powers. (1) Unbalanced pricing may increase performance risk and could result in payment of unreasonably high prices. (b) Actions authorized under Pub. The contracting officer should require such information in all other negotiated contracts when appropriate. 6.302-7 - Public Interest, -Exception authority cited for recommending a Sole Source What are the 4 major sources of law in Zimbabwe? The services contracting that the Gov. Procurement Monies - 3 years The governments's unilateral right in the contract whereby, for a specified time, the government may choose to purchase additional supplies or services or extend the term of the contract. Military Construction - 5 years, prohibits federal employees from authorizing an expenditure of funds in excess of the amount available. Depending on the type of acquisition and the estimated dollar value, the requiring component is expected to form a multi- functional team consisting of the PM, CO, CS, and Contracting Officer's Representative (COR) to develop the package. (2) In arriving at a price adjustment, the contracting officer shall consider the time by which the certified cost or pricing data became reasonably available to the contractor, and the extent to which the Government relied upon the defective data. Government -wide acquisition contracts (GWACS): (3) When field pricing assistance is requested, contracting officers are encouraged to team with appropriate field experts throughout the acquisition process, including negotiations. (b) The auditor shall send a copy of the estimating system survey report and a copy of the official notice of corrective action required to each contracting office and contract administration office having substantial business with that contractor. -Sufficient justification for the authority cited They assist in the contracting officers determination of fair and reasonable price. What are the two major types of contracts? In addition, by providing rationale for any recommendations and quantifying their impact on cost, the Government will be better able to develop realistic objectives for negotiation. Acquholllon DEVELOP SIJ'8tegy rl Date, quantity, and dollar value of items received into inventory 9. (l) Requirements for Certified Cost or Pricing Data and Data Other Than Certified Cost or Pricing Data. This clause also provides instructions to contractors on how to request an exception from the requirement to submit certified cost or pricing data. Full and Open Competition -May be IDIQ contracts or contracts with annual options (2) Additional factors. (i) Consider the availability of alternative contract vehicles and the feasibility of contracting directly with a subcontractor or subcontractors that will perform the bulk of the work. (3) Cost analysis shall be used to evaluate the reasonableness of individual cost elements when certified cost or pricing data are required. (6) Recommendations or conclusions regarding the Governments review or analysis of an offerors or contractors proposal shall not be disclosed to the offeror or contractor without the concurrence of the contracting officer. The purpose of this Policy is to establish the Department of Health and Human Services (HHS) Information Technology Acquisition Review (ITAR) Program. Depending upon decisions made during the planning phase, the procurement may be informal or formal; the selected competition method may be a phone call, or a written solicitation document. On-going Typically this is determined by a dollar value cut off based on the size of the Target - for example, all agreements which involve (or which could potentially involve) more than $50,000 in value or which the Company's operations are substantially dependent. (1) When the price negotiation is not based on cost analysis, contracting officers are not required to analyze profit. Affect more than one contract action They are to be used for instruction and professional guidance. Wide Area Work Flow (WAWF) is a paperless contracting DOD wide application designed to eliminate paper form the receipts and acceptance process of the DOD. A solicitation used in negotiated procurements to communicate government requirements to prospective contractors and to solicit proposals or offers from is a/an? (i) Waiver of Facilities Capital Cost of Money. (1) The contractor shall submit, or cause to be submitted by the subcontractor(s), certified cost or pricing data to the Government for subcontracts that are the lower of either-, (i) $15 million or more; or. The FAR applies to all acquisitions as defined in the FAR, except where expressly excluded. commercial item? L. 85-804 may not- (1) Be used in a manner that encourages carelessness and laxity on the part of persons engaged in the defense effort; or (2) Be relied upon when other adequate legal authority exists within the agency. The assessor's opinion of value can be found for free on most city or county websites that list property tax and ownership data. "Make item," as used in this subsection, means an item or work effort to be produced or performed by the prime contractor or its affiliates, subsidiaries, or divisions.