1. Pricing data, cost data, and judgmental information necessary for the contracting officer to determine a fair and reasonable price or to determine cost realism. Such data may include the identical types of data as certified cost or pricing data, but without the certification. The data may also include, for example, sales data and any information reasonably required to explain the offeror's estimating process.
4. FAR 15.403-1(c) goes into significant detail on what each of the five exceptions involves, but let's look here at the details for the first exception, adequate price competition. Adequate price competition exists when:(i) Two or more responsible offerors, competing independently, submit priced offers that satisfy the Government's expressed requirement and if?
5. According to FAR 15.402(c), the contracting officer shall 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. While we know that contractors derive their prices from the buildup of individual cost elements such as material, labor, equipment, overhead and profit, we do not evaluate individual elements in price analysis. Instead, we evaluate "bottom line" prices. Take a look at the hypothetical cost breakout below...................
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