§ 37-2-44 - Cost and pricing principles – Regulations required.
SECTION 37-2-44
§ 37-2-44 Cost and pricing principles– Regulations required. – The chief purchasing officer shall issue regulations setting forth costprinciples which shall be used:
(1) As guidelines in the negotiation of:
(i) Estimated costs of fixed prices when the absence of openmarker competition precludes the use of competitive sealed bidding;
(ii) Adjustments for state-directed changes or modificationsin contract performances; and
(iii) Settlements of contracts which have been terminated.
(2) To determine the allowability of incurred costs for thepurpose of reimbursing costs under contract provisions which provide for thereimbursement of costs; and
(3) As appropriate in any other situation where thedetermination of the estimated or the incurred costs of performing contractsmay be required.