Common use of DEFECTIVE COST OR PRICING DATA Clause in Contracts

DEFECTIVE COST OR PRICING DATA. i. 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.

DEFECTIVE COST OR PRICING DATA. i. If Seller, its subcontractor, or prospective subcontractor fails to submit accurate, complete 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.