Common use of Price Reduction for Defective Cost or Pricing Data Clause in Contracts

Price Reduction for Defective Cost or Pricing Data. ‌ a. If any price, including profit, negotiated in connection with this award, was increased by any significant amount because (1) the awardee or its subrecipient furnished cost or pricing data that were not complete, accurate and current as certified in its Certificate of Current Cost Pricing data, (2) a subrecipient or prospective subrecipient furnished the awardee cost or pricing data that were not complete, accurate and current as certified in its Certificate of Current Cost Pricing Data, or (3) any of these parties furnished data of any description that were not accurate, the price or cost shall be reduced accordingly and the award shall be amended to reflect the reduction. b. Any reduction in the award price under paragraph a. above due to defective data from a prospective contractor that was not subsequently awarded the subaward shall be limited to the amount, plus applicable overhead and profit markup, by which the actual subaward price was not itself affected by defective cost or pricing data. c. If the cognizant NSF Grants Officer determines under paragraph a. of this clause that a price or cost reduction should be made, the awardee agrees not to raise the following matters as a defense: 1. The awardee or subrecipient was a sole source supplier or otherwise was in a superior bargaining position and thus the price of the award would not have been modified even if accurate, complete and current cost or pricing data had been submitted. 2. The cognizant NSF Grants Officer should have known that the cost or pricing data in issue were defective even though the awardee or subrecipient took no affirmative action to bring the character of the data to the attention of the cognizant NSF Grants Officer. 3. The awardee or subrecipient did not submit a Certificate of Cost or Pricing Data. Except as prohibited by c.3. of this article, an offset in an amount determined appropriate by the cognizant NSF Grants Officer based upon the facts shall be allowed against the amount of an award price reduction if: • The awardee certifies to the cognizant NSF Grants Officer that, to the best of the awardee’s knowledge and belief, the awardee is entitled to the offset in the amount requested; and • The awardee proves that the cost or pricing data (or price of amendment) is accurate and that the data was not submitted before such date. An offset shall not be allowed if: • The understated data was known by the awardee to be understated when the Certificate of Cost or Pricing Data was signed; or The Government proves that the facts demonstrate that the award price would not have been increased in the amount to be offset even if the available data had been submitted before the date of agreement of price. d. If any reduction in the award price under this article reduces the price for which payment was made prior to the date of the amendment reflecting the price reduction, the awardee shall be liable to and shall pay the United States at the time such overpayment is repaid simple interest on the amount of such overpayment to be computed from the date(s) of overpayment to the awardee to the date the Government is repaid by the awardee at the applicable underpayment rate effective for each quarter prescribed by the Secretary of the Treasury under 26 USC 6621(a)(2).

Price Reduction for Defective Cost or Pricing Data. ‌ a. (1) If any price, including profitprofit or fee, negotiated in connection with this awardLease, or any cost reimbursable under this Lease, was increased by any significant amount because (1) the awardee or its subrecipient Lessor furnished cost or pricing data that were not complete, accurate accurate, and current as certified in its Certificate of Current Cost Pricing data, (2) a subrecipient or prospective subrecipient furnished the awardee cost or pricing data that were not complete, accurate and current as certified in its Certificate of Current Cost Pricing Data, or (3) any of these parties furnished data of any description that were not accurate, the price or cost shall be reduced accordingly and the award shall be amended to reflect the reduction. b. Any reduction in the award price under paragraph a. above due to defective data from a prospective contractor that was not subsequently awarded the subaward shall be limited to the amount, plus applicable overhead and profit markup, by which the actual subaward price was not itself affected by defective cost or pricing data. c. (A) If the cognizant NSF Grants Contracting Officer determines under paragraph a. (1) of this clause that a price or cost reduction should be made, the awardee Lessor agrees not to raise the following matters as a defense: 1. (i) The awardee or subrecipient Lessor was a sole source supplier or otherwise was in a superior bargaining position and thus the price of the award Lease would not have been modified even if accurate, complete complete, and current cost or pricing data had been submitted. 2. The cognizant NSF Grants Officer (ii) JPL should have known that the cost or pricing data in issue were defective even though the awardee or subrecipient Lessor took no affirmative action to bring the character of the data to the attention of the cognizant NSF Grants OfficerJPL. 3. (iii) The awardee or subrecipient Lease was based on an agreement about the total cost of the Lease and there was no agreement about the cost of each item procured under the Lease. (iv) The Lessor did not submit a Certificate of Current Cost or Pricing Data. . (i) Except as prohibited by c.3. subdivision (b)(2)(B)(ii) of this articleclause, an offset in an amount determined appropriate by the cognizant NSF Grants Officer JPL Subcontracts Manager based upon the facts shall be allowed against the amount of an award a Lease price reduction if: • : a. The awardee Lessor certifies to the cognizant NSF Grants Officer JPL Subcontracts Manager that, to the best of the awardee’s Lessor's knowledge and belief, the awardee Lessor is entitled to the offset in the amount requested; and • and b. The awardee Lessor proves that the cost or pricing data (were available before the “as of” date specified on its Certificate of Current Cost or price of amendment) is accurate Pricing Data and that the data was were not submitted before such date. . (ii) An offset shall not be allowed if: • : a. The understated data was known by the awardee Lessor to be understated when the Certificate of Current Cost or Pricing Data was signed; or The Government or b. JPL proves that the facts demonstrate that the award Lease price would not have been increased in the amount to be offset even if the available data had been submitted before the “as of” date specified on its Certificate of agreement of priceCurrent Cost or Pricing Data. d. If any reduction (3) In the event of a disagreement between the JPL Subcontracts Manager and the Lessor with respect to a question of fact involved in the award price under this article reduces JPL Subcontracts Manager’s determination to reduce the price for which payment was made prior of this Lease, the Lessor may, subject to the date prior approval of JPL, which approval will not be unreasonably withheld, process such disagreement as a dispute to the extent that it may be entitled to do so under the provisions of the amendment reflecting the price reduction, the awardee shall be liable to and shall pay the United States at the time such overpayment is repaid simple interest on the amount of such overpayment to be computed from the date(s) of overpayment to the awardee to the date the Government is repaid by the awardee at the applicable underpayment rate effective for each quarter prescribed by the Secretary of the Treasury under 26 USC 6621(a)(2)Prime Contract.

Price Reduction for Defective Cost or Pricing Data. ‌ a. If any price, including profit, negotiated in connection with this award, was increased by any significant amount because (1) the awardee recipient or its subrecipient furnished cost or pricing data that were not complete, accurate and current as certified in its Certificate of Current Cost Pricing data, (2) a subrecipient or prospective subrecipient furnished the awardee recipient cost or pricing data that were not complete, accurate and current as certified in its Certificate of Current Cost Pricing Data, or (3) any of these parties furnished data of any description that were not accurate, the price or cost shall be reduced accordingly and the award shall be amended to reflect the reduction. b. Any reduction in the award price under paragraph a. above due to defective data from a prospective contractor that was not subsequently awarded the subaward shall be limited to the amount, plus applicable overhead and profit markup, by which the actual subaward price was not itself affected by defective cost or pricing data. c. If the cognizant NSF Grants and Agreements Officer determines under paragraph a. of this clause that a price or cost reduction should be made, the awardee recipient agrees not to raise the following matters as a defense: 1. The awardee recipient or subrecipient was a sole source supplier or otherwise was in a superior bargaining position and thus the price of the award would not have been modified even if accurate, complete and current cost or pricing data had been submitted. 2. The cognizant NSF Grants and Agreements Officer should have known that the cost or pricing data in issue were defective even though the awardee recipient or subrecipient took no affirmative action to bring the character of the data to the attention of the cognizant NSF Grants and Agreements Officer. 3. The awardee recipient or subrecipient did not submit a Certificate of Cost or Pricing Data. Except as prohibited by c.3. of this article, an offset in an amount determined appropriate by the cognizant NSF Grants and Agreements Officer based upon the facts shall be allowed against the amount of an award price reduction if: • The awardee recipient certifies to the cognizant NSF Grants and Agreements Officer that, to the best of the awardeerecipient’s knowledge and belief, the awardee recipient is entitled to the offset in the amount requested; and • The awardee recipient proves that the cost or pricing data (or price of amendment) is accurate and that the data was not submitted before such date. An offset shall not be allowed if: • The understated data was known by the awardee recipient to be understated when the Certificate of Cost or Pricing Data was signed; or The Government proves that the facts demonstrate that the award price would not have been increased in the amount to be offset even if the available data had been submitted before the date of agreement of price. d. If any reduction in the award price under this article reduces the price for which payment was made prior to the date of the amendment reflecting the price reduction, the awardee recipient shall be liable to and shall pay the United States at the time such overpayment is repaid simple interest on the amount of such overpayment to be computed from the date(s) of overpayment to the awardee recipient to the date the Government is repaid by the awardee recipient at the applicable underpayment rate effective for each quarter prescribed by the Secretary of the Treasury under 26 USC U.S.C. § 6621(a)(2).

Price Reduction for Defective Cost or Pricing Data. ‌ a. If any price, including profit, negotiated in connection with this award, was increased by any significant amount because (1) the awardee or its subrecipient furnished cost or pricing data that were not complete, accurate and current as certified in its Certificate of Current Cost Pricing data, (2) a subrecipient or prospective subrecipient furnished the awardee cost or pricing data that were not complete, accurate and current as certified in its Certificate of Current Cost Pricing Data, or (3) any of these parties furnished data of any description that were not accurate, the price or cost shall be reduced accordingly and the award shall be amended to reflect the reduction. b. Any reduction in the award price under paragraph a. above due to defective data from a prospective contractor that was not subsequently awarded the subaward shall be limited to the amount, plus applicable overhead and profit markup, by which the actual subaward price was not itself affected by defective cost or pricing data. c. If the cognizant NSF Grants Officer determines under paragraph a. of this clause that a price or cost reduction should be made, the awardee agrees not to raise the following matters as a defense: 1. The awardee or subrecipient was a sole source supplier or otherwise was in a superior bargaining position and thus the price of the award would not have been modified even if accurate, complete and current cost or pricing data had been submitted. 2. The cognizant NSF Grants Officer should have known that the cost or pricing data in issue were defective even though the awardee or subrecipient took no affirmative action to bring the character of the data to the attention of the cognizant NSF Grants Officer. 3. The awardee or subrecipient did not submit a Certificate of Cost or Pricing Data. Except as prohibited by c.3. of this article, an offset in an amount determined appropriate by the cognizant NSF Grants Officer based upon the facts shall be allowed against the amount of an award price reduction if: • The awardee certifies to the cognizant NSF Grants Officer that, to the best of the awardee’s knowledge and belief, the awardee is entitled to the offset in the amount requested; and • The awardee proves that the cost or pricing data (or price of amendment) is accurate and that the data was not submitted before such date. An offset shall not be allowed if: • The understated data was known by the awardee to be understated when the Certificate of Cost or Pricing Data was signed; or The Government proves that the facts demonstrate that the award price would not have been increased in the amount to be offset even if the available data had been submitted before the date of agreement of price. d. If any reduction in the award price under this article reduces the price for which payment was made prior to the date of the amendment reflecting the price reduction, the awardee shall be liable to and shall pay the United States at the time such overpayment is repaid simple interest on the amount of such overpayment to be computed from the date(s) of overpayment to the awardee to the date the Government is repaid by the awardee at the applicable underpayment rate effective for each quarter prescribed by the Secretary of the Treasury under 26 USC 6621(a)(2).