74.46—Procurement records.
Procurement records and files for purchases in excess of the simplified acquisition threshold shall include the following at a minimum: (a) Basis for contractor selection, (b) justification for lack of competition when competitive bids or offers are not obtained, and (c) basis for award cost or price.
[59 FR 43760, Aug. 25, 1994, as amended at 62 FR 41878, Aug. 4, 1997]