Cost or Pricing Data Required Clause Samples
The "Cost or Pricing Data Required" clause mandates that a contractor must provide detailed cost or pricing information to the contracting authority, typically before the finalization of a contract or a contract modification. This requirement applies to situations where price negotiations are involved and the contract value exceeds a certain threshold, ensuring that the government or client can verify the fairness and reasonableness of the proposed price. By requiring this data, the clause helps prevent overpricing and ensures transparency in the negotiation process, ultimately protecting the interests of the party requesting the data.
Cost or Pricing Data Required. The Agreements Officer for each prototype project will request the amount of cost or pricing data required in order to establish a fair and reasonable price for the project.
Cost or Pricing Data Required. Where submission of cost or pricing data is required or requested at any time prior to performance of this Purchase Order, when required as a result of a U.S. Government review or audit, or when required upon Flyer’s receipt of a termination settlement proposal by the Supplier, and Supplier or its lower- tier subcontractors: (i) submit and/or certify cost or pricing data that are defective; (ii) with notice of applicable cutoff dates and upon Flyer’s request to provide cost or pricing data, submit cost or pricing data, whether certified or not certified at the time of submission, as a prospective subcontractor, and any such data is defective as of the applicable cutoff date on Flyer’s Certificate of Current Cost or Pricing Data; (iii) claim an exception to a requirement to submit cost or pricing data and such exception is invalid; (iv) furnish data of any description that is inaccurate; or (v) the U.S. Government alleges any of the foregoing; and, as a result, (1) Flyer’s contract price or fee is reduced; (2) Flyer’s costs are determined to be unallowable; (3) any fines, penalties, withholdings, or interest are assessed on Flyer; or (4) Flyer incurs any other costs or damages; Flyer may proceed as provided for in Section 3(i) below.