§ 37-2-28 - Cost or pricing data.
SECTION 37-2-28
§ 37-2-28 Cost or pricing data. – (a) A contractor shall submit cost or pricing data and shall certify that, tothe best of his or her knowledge and belief, the cost or pricing data submittedwas accurate, complete, and current as of a mutually determined specified dateprior to the date of:
(1) The pricing of any negotiated contract where the totalcontract price is expected to exceed fifty thousand dollars ($50,000); or
(2) The pricing of any change order or contract modificationwhich is expected to exceed twenty-five thousand dollars ($25,000), or suchlesser amount in either instance as may be prescribed by the purchasing agentand approved by the budget office.
(b) Any contract, change, or modification thereto, underwhich a certificate is required, shall contain a provision that the price tothe state, including profit or fee, shall be adjusted to exclude anysignificant sums by which the purchasing agent finds that the price wasincreased because the contractor furnished cost or pricing data, as of the dateagreed upon between the parties, was inaccurate, incomplete, or not current.
(c) The requirements of this section need not be applied tocontracts where the price negotiated is based on adequate price competition,established catalogue or market prices of commercial items sold in substantialquantities to the general public, prices set by law or regulation, or inexceptional cases where it is determined, in writing, by the chief purchasingofficer that the requirements of this section may be waived, and the reasonsfor that waiver are stated in writing.