depending upon the estimated dollar value of the acquisition

Increase in Equity Value estimated value, etc., will not be made until each procurement is initiated. For standard commercial products fabricated by the offeror that are generally stocked in inventory, provide a separate cost breakdown, if priced based on cost. (2) The contracting officer shall tailor the type of information and level of detail requested in accordance with the specialized resources available at the buying activity and the magnitude and complexity of the required analysis. 3. The five guides are: I Price Analysis, II Quantitative Techniques for Contract Pricing, III Cost Analysis, IV Advanced Issues in Contract Pricing, and V Federal Contract Negotiation Techniques. This subfactor measures the contribution of direct engineering, manufacturing, and other labor to converting the raw materials, data, and subcontracted items into the contract items. The contracting officer shall consider the findings and recommendations contained in the program should-cost review team report when negotiating the contract price. (1) Use the clause with its Alternate I to specify a format for certified cost or pricing data other than the format required by Table 15-2 of this section; (2) Use the clause with its Alternate II if copies of the proposal are to be sent to the ACO and contract auditor; (3) Use the clause with its Alternate III if submission via electronic media is required; and. Vermilion's Board of Directors has approved an E&D capital budget of $425 million for 2022 which is expected to deliver annual average production of 83,000 to 85,000 boe/d, excluding any impact . When does the Service Contract Act of 1965 apply? estimates? true ETHICS PROCUREMENT PERSONNEL: You are a COR working on the third year of a 5-year contract (football tickets) Option is the most advantageous method of fulfilling the need Only used when it is not possible, at the time of award, to accurately estimate the extent or duration of the work or to anticipate future costs with a degree of confidence, -Not the same as Multi-year contracts (1) If, after award, certified cost or pricing data are found to be inaccurate, incomplete, or noncurrent as of the date of final agreement on price or an earlier date agreed upon by the parties given on the contractor's or subcontractor's Certificate of Current Cost or Pricing Data, the Government is entitled to a price adjustment, including profit or fee, of any significant amount by which the price was increased because of the defective data. (select all that apply), a. 2377. The Services Acquisition Process includes planning, development and execution. What are the 7 Statutory Exceptions to Full and Open Competition? What are the Physical devices used to construct memories? When certification is required, the contracting officer may require submission of certified cost or pricing data in the format indicated in Table 15-2 of 15.408, specify an alternative format, or permit submission in the contractors format (See 15.408(l)(1)), unless the data are required to be submitted on one of the termination forms specified in subpart 49.6. 2377. Any method of distributing costs to line items that distorts the unit prices shall not be used. 3703(a)(1)(A) and 41 U.S.C.3503(a)(1)(A)). (c) Any contractor or subcontractor that is required to submit certified cost or pricing data also shall obtain and analyze certified cost or pricing data before awarding any subcontract, purchase order, or modification expected to exceed the certified cost or pricing data threshold, unless an exception in 15.403-1(b) applies to that action. true ETHICS PROCUREMENT PERSONNEL: You are a COR working on the third year of a 5-year contract (football tickets). This subfactor measures the prospective contractors other indirect costs and general and administrative (G&A) expense, their composition, and how much they contribute to contract performance. Use of cutoff dates coinciding with reports is acceptable, as certain data may not be reasonably available before normal periodic closing dates (e.g., actual indirect costs). The documentation shall include a written finding that certified cost or pricing data are necessary to determine whether the price is fair and reasonable and the facts supporting that finding. (l) Requirements for Certified Cost or Pricing Data and Data Other Than Certified Cost or Pricing Data. No, the tickets exceed the gratuity dollar threshold of $20, The _______ is the statutory requirement that ensures full and open competitio. Firm _____________________________________________, Signature _________________________________________, Name ____________________________________________, Title _____________________________________________, Date of execution***________________________________. (a) When certified cost or pricing data are required, offerors are required to describe any forward pricing rate agreements (FPRAs) in each specific pricing proposal to which the rates apply and to identify the latest cost or pricing data already submitted in accordance with the FPRA. Responsible agency creates and publishes a "proposed rule" in the Federal Register, Satisfy the customer in terms of cost, quality, and timeliness of the delivered product or service. Statement of need Law The Federal Government's authority to enter into contracts derives from the U.S. Constitution, which defines its powers. 8(a) Programs Contracting officers shall -. EL DORADO, Ark. (i) Obtain whatever data are available from Government or other secondary sources and use that data in determining a fair and reasonable price; (ii) Require submission of data other than certified cost or pricing data, as defined in 2.101, from the offeror to the extent necessary to determine a fair and reasonable price ( 10 U.S.C. estimated value, etc., will not be made until each procurement is initiated. - Contractor's technical capability and financial responsibility (iii) The evaluated price is the aggregate of estimated quantities to be ordered under separate line items of an indefinite-delivery contract. 1.2 Administration What is the method of procurement and synopsis for a requirement over $25K, Purchase Order and advertised on FedBizOpps/ASFI, What is the method of procurement and synopsis for a requirement > SAT, Contract and advertised on FedBizOpps/ASFI, Fundamentals of Financial Management, Concise Edition, Marketing Essentials: The Deca Connection, Carl A. Woloszyk, Grady Kimbrell, Lois Schneider Farese. The audit office shall send the audit report, or otherwise transmit the audit recommendations, directly to the contracting officer. The TACPA business participation program requirement must be included in competitive acquisition with an estimated dollar value of $100,000 and over. Active Feature-value Acquisition 2.1. If the contracting officer determines that a product or service claimed to be commercial is not, and that no other exception or waiver applies (e.g., the acquisition is not based on adequate price competition; the acquisition is not based on prices set by law or regulation; and the acquisition exceeds the threshold for the submission of certified cost or pricing data at 15.403-4(a)(1)) the contracting officer shall require submission of certified cost or pricing data. (i) Some initial production has already taken place; (ii) The contract will be awarded on a sole source basis; (iii) There are future year production requirements for substantial quantities of like items; (iv) The items being acquired have a history of increasing costs; (v) The work is sufficiently defined to permit an effective analysis and major changes are unlikely; (vi) Sufficient time is available to plan and adequately conduct the should-cost review; and. (B) In order to make this determination, the contracting officer may request the offeror to submit prices paid for the same or similar commercial services under comparable terms and conditions by both Government and commercial customers; and. (1) Should-cost reviews are a specialized form of cost analysis. The increases for micro-purchases and the simplified acquisition threshold apply to FTA-funded procurements made on or after June 20, 2018. The governments's unilateral right in the contract whereby, for a specified time, the government may choose to purchase additional supplies or services or extend the term of the contract. true. (c) Contracting officers shall not require certification at the time of agreement for data supplied in support of FPRAs or other advance agreements. What are the two basic types of contracts? (iv) Capital investments. The KO must exercise the option prior to end date of the current period of performance. (2) Cost realism analyses shall be performed on cost-reimbursement contracts to determine the probable cost of performance for each offeror. Oral notifications shall be confirmed promptly in writing, including a description of deficient or denied data or records. (1) An overhead should- cost review is used to evaluate indirect costs, such as fringe benefits, shipping and receiving, real property, and equipment, depreciation, plant maintenance and security, taxes, and general and administrative activities. Acquisition background and objectives the contracting officer or the source selection authority. CLC 106 COR with a Mission Focus - Exam.docx - Course Hero (A) Determine the defective pricing amounts that have been overpaid to the contractor; (B) Consider the date of each overpayment (the date of overpayment for this interest calculation shall be the date payment was made for the related completed and accepted contract items; or for subcontract defective pricing, the date payment was made to the prime contractor, based on prime contract progress billings or deliveries, which included payments for a completed and accepted subcontract item); and. (3) For services that are not offered and sold competitively in substantial quantities in the commercial marketplace, but are of a type offered and sold competitively in substantial quantities in the commercial marketplace, see 15.403-1(c)(3)(ii). (A) Use the basic clause in solicitations and contracts when the estimated value equals or exceeds $100,000, but is less than $182,000 [183, 000] (*. Definite Quantity Contract When prospective contractors are required to submit proposed make-or-buy programs, the solicitation shall include-, (1) A statement that the program and required supporting information must accompany the offer; and. (2) In arriving at a price adjustment, the contracting officer shall consider the time by which the certified cost or pricing data became reasonably available to the contractor, and the extent to which the Government relied upon the defective data. Acquisition premium represents the increased . The FAR Matrix is located in what FAR Part? In addition, the construction cost component of PIPs is increasing rapidly as a result of the . COR 106 Flashcards | Quizlet (e) If both the contractor and subcontractor submitted, and the contractor certified, or should have certified, cost or pricing data, the Government has the right, under the clauses at 52.215-10, Price Reduction for Defective Certified Cost or Pricing Data, and 52.215-11, Price Reduction for Defective Certified Cost or Pricing Data-Modifications, to reduce the prime contract price if it was significantly increased because a subcontractor submitted defective data. . FAR 8.002(1) - Supplies The ACO or the auditor, as appropriate, shall notify the contracting officer immediately if the data provided for review is so deficient as to preclude review or audit, or if the contractor or offeror has denied access to any records considered essential to conduct a satisfactory review or audit. (i) Contractor effort. With this deal, the combined value of the company amounts to $1.3 billion. Any other data that may be pertinent to an assessment of the offerors ability to accomplish the technical requirements or to the cost or price analysis of the service or product being proposed should also be included in the analysis. The scope and depth of the analysis supporting the objectives should be directly related to the dollar value, importance, and complexity of the pricing action. Urgency GSA Advantage - Federal Supply Schedules. Cost - the cost of the purchased software 12. If cost or price analysis techniques indicate that an offer is unbalanced, the contracting officer shall-, (i) Consider the risks to the Government associated with the unbalanced pricing in determining the competitive range and in making the source selection decision; and. Acquisition Category (ACAT) - AcqNotes However, because of the potential impact on small business participation, before conducting an acquisition that is a consolidation of requirements with an estimated total dollar value exceeding $2 million, the senior procurement executive (SPE) or chief acquisition officer (CAO) shall make a written determination that the consolidation is . Also, if you desire to retain these items or any portion of them, indicate the amount offered for them. The Economy Act (FAR 17.5>) applies to orders placed under MACs, with the exception of MACs for information technology established pursuant to the Clinger-Cohen Act, The 8(a) Program provides business development assistance to companies owned by socially and economically disadvantaged individuals. (i) Waiver of Facilities Capital Cost of Money. The Economy Act does not apply when placing orders under GWACs. (1) Unbalanced pricing may increase performance risk and could result in payment of unreasonably high prices. (1) Contracting officers decision in accordance with the Contract Disputes statute; (2) Board of Contract Appeals decision; or. (b) Program should-cost review. Identify the following terms and explain their significance. Enter the net cost of change, which is the cost of work added, less the net cost to be deleted. The head of the contracting activity (HCA) may, without power of delegation, waive the requirement for submission of certified cost or pricing data in exceptional cases. What are the two most common types of best Value evaluations? Increase in Value of Equity. The contracting officer shall insert the clause at 52.215-18, Reversion or Adjustment of Plans for Postretirement Benefits (PRB) Other Than Pensions, in solicitations and contracts for which it is anticipated that certified cost or pricing data will be required or for which any preaward or postaward cost determinations will be subject to part 31.