DEFECTIVE COST OR PRICING DATA Sample Clauses

DEFECTIVE COST OR PRICING DATA a. If Seller, its subcontractor, or prospective subcontractor fails to submit accurate, complete and current cost or pricing data, and, as a result of that failure, the Government reduces the price of Buyer’s prime contract, Buyer may recover from Seller an amount equal to the price reduction of the prime contract. b. If, as a result of Seller’s or its subcontractor’s foregoing conduct, the Government imposes a penalty on or charges Buyer interest, Xxxxx may recover from Seller the amount of that interest or penalty. c. For the purposes of paragraphs a and b of this Article, if Buyer is a higher-tier subcontractor, “Government” means the higher-tier contractor and “prime contract” means the higher-tier subcontract. d. Seller will not raise as defenses the matters listed in FAR 52.215-10(c)(1) (AUG 2011) or FAR 52.215-11(d)(1) (AUG 2011).
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DEFECTIVE COST OR PRICING DATA a. If Seller, its subcontractor, or prospective subcontractor fails to submit accurate, complete and current cost or pricing data, and, as a result of that failure, the Government reduces the price of Buyer’s prime contract, Buyer may recover from Seller an amount equal to the price reduction of the prime contract. b. If, as a result of Seller’s or its subcontractor’s foregoing conduct, the Government imposes a penalty on or charges Buyer interest, Xxxxx may recover from Seller the amount of that interest or penalty. c. For the purposes of paragraphs a. and b. of this Article 18, if Buyer is a higher tier subcontractor, “Government” means the higher tier contractor and “prime contract” means the higher tier subcontract.
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DEFECTIVE COST OR PRICING DATA. If Contractor has submitted a Certificate or Current Cost or Pricing Data with its Bid and the County subsequently determines that such cost or pricing data is inaccurate, incomplete, or noncurrent as of the date stated in the Certificate, Contractor acknowledges the County’s right to adjust the contract price, including profit or fee, to exclude any significant sum by which the price, including profit or fee, was increased because of the defective data. Judgmental errors made by the Contractor in good faith concerning the estimated portions of future costs or projections do not constitute defective data. The County will presume that overstated cost or pricing data increased the contract price in the amount of the defect plus related overhead and profit or fee. Therefore, unless there is a clear indication that the defective data was not used or relied upon by the contractor in the formation of its Bid, the County will reduce the Contract price by such amount. In establishing that the defective data caused an increase in the Contract price, Contractor acknowledges that the Purchasing Director or his/her designee has no obligation to reconstruct the negotiation by speculating as to what would have been the mental attitudes of the negotiating parties if the correct data had been submitted at the time of agreement on price. In determining the amount of a downward adjustment, the Contractor shall be entitled to an offsetting adjustment for any understated cost or pricing data submitted in support of price negotiations for the same pricing action up to the amount of the County’s claims for overstated costs or pricing data arising out of the same pricing action. If the Contractor and the Purchasing Director or his/her designee cannot agree as to the existence of defective cost or pricing data or the amount of adjustment due to defective cost or pricing data, the Purchasing Director or his/her designee shall set an amount in accordance with Subsection 103.08, Pricing Adjustments, of the Contract, the Contractor may appeal this decision as a contract controversy under Article 9 of Chapter 120 of the Xxxxx County Code.
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DEFECTIVE COST OR PRICING DATA a. If Seller, its subcontractor, or prospective subcontractor fails to submit accurate, complete and current cost or pricing data, and, as a result of that failure, the Government reduces the price of Buyer’s prime contract, Buyer may recover from Seller an amount equal to the price reduction of the prime contract. b. If, as a result of Seller’s or its subcontractor’s foregoing conduct, the Government imposes a xxxx lty on or charges Buyer interest, Buyer may recover from Seller the amount of that interest or xxxx lty. c. For the purposes of paragraphs a. and b. of this Article 18, if Buyer is a higher tier subcontractor, “Government” means the higher tier contractor and “prime contract” means the higher tier subcontract.
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DEFECTIVE COST OR PRICING DATA. (a) This Agreement incorporates FAR 52.215-10 “Price Reduction for Defective Certified Cost or Pricing Data.” In addition to any other remedies provided by law or under the Agreement, if Buyer is subjected to any liability as the result of Seller or its lower tier subcontractor’s failure to comply with the requirement of 52.215-10, then Seller agrees to indemnify and hold Buyer harmless to the full extent of any loss, damage or expense resulting from such failure.
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DEFECTIVE COST OR PRICING DATA. If certified cost or pricing data are subsequently found to have been inaccurate, incomplete, or not current as of the date stated in the certificate, the BWS is entitled to an adjustment of the Fixed Design-Build Price or the Service Fee, as applicable, including profit or fee, to exclude any significant sum by which the Fixed Design-Build Price or the Service Fee, as applicable, including profit or fee, was increased because of the defective data. If the DBOM Contractor and the Officer-in-Charge cannot agree as to the existence of defective cost or pricing data or amount of adjustment due to defective cost or pricing data, the Officer-in-Charge shall set an amount in accordance with the provisions of subchapter 15, Chapter 3-122 (Cost or Pricing Data), HAR, and the DBOM Contractor may appeal this decision as a contract controversy under Chapter 3-126 (Legal and Contractual Remedies), HAR, in accordance with Section 16.3 (Authority to Resolve Contract and Breach of Contract Controversies).
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Related to DEFECTIVE COST OR PRICING DATA

  • Purchase Order Pricing/Product Deviation If a deviation of pricing/product on a Purchase Order or contract modification occurs between the Vendor and the TIPS Member, TIPS must be notified within five (5) business days of receipt of change order. TIPS reserves the right to terminate this agreement for cause or no cause for convenience with a thirty (30) days prior written notice. Termination for convenience is conditionally required under Federal Regulations 2 CFR part 200 if the customer is using federal funds for the procurement. All purchase orders presented to the Vendor, but not fulfilled by the Vendor, by a TIPS Member prior to the actual termination of this agreement shall be honored at the option of the TIPS Member. The awarded Vendor may terminate the agreement with ninety (90) days prior written notice to TIPS 0000 XX Xxx Xxxxx, Xxxxxxxxx, Xxxxx 00000. The vendor will be paid for goods and services delivered prior to the termination provided that the goods and services were delivered in accordance with the terms and conditions of the terminated agreement. This termination clause does not affect the sales agreements executed by the Vendor and the TIPS Member customer pursuant to this agreement. TIPS Members may negotiate a termination for convenience clause that meets the needs of the transaction based on applicable factors, such as funding sources or other needs. Usually, purchase orders or their equal are issued by participating TIPS Member to the awarded vendor and should indicate on the order that the purchase is per the applicable TIPS Agreement Number. Orders are typically emailed to TIPS at xxxxxx@xxxx-xxx.xxx. • Awarded Vendor delivers goods/services directly to the participating member. • Awarded Vendor invoices the participating TIPS Member directly. • Awarded Vendor receives payment directly from the participating member. • Fees are due to TIPS upon payment by the Member to the Vendor. Vendor agrees to pay the participation fee to TIPS for all Agreement sales upon receipt of payment including partial payment, from the Member Entity or as otherwise agreed by TIPS in writing and signed by an authorized signatory of TIPS.

  • Nonconforming Work 5.6.1 Rejection, Removal and Replacement of Nonconforming Work

  • Indirect Cost Rates The System Agency may acknowledge an indirect cost rate for Grantees that is utilized for all applicable Grant Agreements. For subrecipients receiving federal funds, indirect cost rates will be determined in accordance with applicable law including, but not limited to, 2 CFR 200.414(f). For recipients receiving state funds, indirect costs will be determined in accordance with applicable law including, but not limited to, TxGMS. Grantees funded with blended federal and state funding will be subject to both state and federal requirements when determining indirect costs. In the event of a conflict between TxGMS and applicable federal law or regulation, the provisions of federal law or regulation will apply. Grantee will provide any necessary financial documents to determine the indirect cost rate in accordance with the Uniform Grant Guidance (UGG) and TxGMS.

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