Consequently, award of any lower-tier subcontract expected to exceed the certified cost or pricing data threshold requires the submission of certified cost or pricing data unless-, (i) An exception otherwise applies to the subcontract; or. The subfactors in paragraphs (d)(1)(i)(A) through (D) of this subsection shall be considered in determining contractor effort, but they may be modified in specific situations to accommodate differences in the categories used by prospective contractors for listing costs-. Considering the hierarchy at 15.402, the contracting officer shall insert the clause at 52.215-21, Requirements for Certified Cost or Pricing Data and Data Other Than Certified Cost or Pricing Data-Modifications, in solicitations and contracts if it is reasonably certain that certified cost or pricing data or data other than certified cost or pricing data will be required for modifications. Any finding that the price is unreasonable must be supported by a statement of the facts and approved at a level above the contracting officer. Also provide data showing the basis for establishing source and reasonableness of price. Not specific 1.Begin with Research and Development The ACO shall establish a follow-up plan to monitor the correction of the uneconomical or inefficient practices. L. 85-804 may not- (1) Be used in a manner that encourages carelessness and laxity on the part of persons engaged in the defense effort; or (2) Be relied upon when other adequate legal authority exists within the agency. (d) Subcontractor Certified Cost or Pricing Data. The prime contractor is responsible for updating a prospective subcontractors data. Date and number of inventory requisition 10. (ii) Documents the reasons in the contract file. x intra-entity receivables and payables are . This provision also provides instructions to offerors on how to request an exception from the requirement to submit certified cost or pricing data. (b) Price each contract separately and independently and not-, (1) Use proposed price reductions under other contracts as an evaluation factor; or. However, this does not mean that all of the policies and procedures of the FAR apply to all acquisitions. Before taking any contractual actions concerning penalties, the contracting officer shall obtain the advice of counsel. -Promoting full and open competition ARB . In addition, the contracting officer should request data to determine the cost realism of competing offers or to evaluate competing approaches. Wide Area Work Flow (WAWF) is a paperless contracting DOD wide application designed to eliminate paper form the receipts and acceptance process of the DOD. A solicitation used in negotiated procurements to communicate government requirements to prospective contractors and to solicit proposals or offers from is a/an? What do the parents perceive as their role to the Day Care worker? Milestones (at which decisions should be made) (2) At a minimum, the technical analysis should examine the types and quantities of material proposed and the need for the types and quantities of labor hours and the labor mix. Chapter 11 - Intermediate Flashcards | Quizlet Computing Depreciation under Alternative Methods. These should-cost reviews may be performed together or independently. Increase in Equity Value true ETHICS PROCUREMENT PERSONNEL: You are a COR working on the third year of a 5-year contract (football tickets). 1.4 Deviations from the FAR The contracting officer shall prepare a memorandum documenting both the determination and any corrective action taken as a result. Approvals needed. -Consider soliciting at least 3 sources This form also must be completed before the program official submits the purchase request (PR) package to the Procurement Office. 14,803 2. 2377. The ACO should use this information to form the basis for the Government position in negotiating an FPRA with the contractor. depending upon the estimated dollar value of the acquisition Acquisition Detail - purchase order number, donation source or gift source 9. Negotiations aimed merely at reducing prices by reducing profit, without proper recognition of the function of profit, are not in the Governments interest. The estimate should consider the technical content of the program described in the CNS, UA, acquisition strategy, and test strategy. -Use at least 2 quotes from two sources not used before. Option was synopsized IAW FAR Part 5 What is are the functions of diverse organisms? For example, if certified cost or pricing data were furnished on previous production buys and the contracting officer determines such data are sufficient, when combined with updated data, a waiver may be granted. Annual run rate synergies of $28 million are expected to be achieved by the third year. research? Most competitive negotiated acquisitions are awarded in this manner. (ii) The contracting officer should be notified immediately of any information disclosed to the auditor after submission of a report that may significantly affect the audit findings and, if necessary, a supplemental audit report shall be issued. . (4) The current status of any contractor systems (e.g., purchasing, estimating, accounting, and compensation) to the extent they affected and were considered in the negotiation. Created by. (A) Verifying sales history to source documents; (B) Identifying special terms and conditions; (C) Identifying customarily granted or offered discounts for the item; (D) Verifying the item to an existing catalog or price list; (E) Verifying historical data for a product or service previously not determined commercial that the offeror is now trying to qualify as a commercial product or commercial service; and. This includes requiring data from an offeror to support a cost realism analysis; (iii) Consider whether cost data are necessary to determine a fair and reasonable price when there is not adequate price competition; (iv) Require that the data submitted by the offeror include, at a minimum, appropriate data on the prices at which the same item or similar items have previously been sold, adequate for determining the reasonableness of the price unless an exception under 15.403-1(b)(1) or (2) applies; and. What are the two major types of contracts? When this result is negative, place the amount in parentheses. This limitation does not preclude the contracting officer or the ACO, or their representatives, from requesting that the offeror provide or make available any data or records necessary to analyze the offerors proposal. Specify the total estimated dollar value of the acquisition, inclusive of options, and the total performance/delivery period. (5) An offset shall be allowed only in an amount supported by the facts and if the contractor-, (i) Certifies to the contracting officer that, to the best of the contractors knowledge and belief, the contractor is entitled to the offset in the amount requested; and. Enter your redetermination proposal amount. 2.Very costly and long-lead time, The process of creating and issuing federal regulations. - Contractor's technical capability and financial responsibility (iii) Comparison of costs proposed by the offeror for individual cost elements with-. (d) Change order authority.Contracting officers may authorize COR change order authority in accordance with the limitations in . . . The extent of planning and research will vary, depending on such factors as estimated dollar value, complexity, and Identification of the . The increases for micro-purchases and the simplified acquisition threshold apply to FTA-funded procurements made on or after June 20, 2018. (D) The application of audited or negotiated indirect cost rates, labor rates, and cost of money or other factors. 3705(b) and 41 U.S.C. The assessor's opinion of value can be found for free on most city or county websites that list property tax and ownership data. What is the Competition Advocate and what are they responsible for? exceeding the threshold set forth in FAR 15.403-4 and not otherwise exempt, in accordance with FAR 15.403-1(b) ( i.e., adequate price competition, commercial products or commercial services, prices set by law or regulation or waiver). Cost, schedule and capability or performance constraints Early communication with these experts will assist in determining the extent of assistance required, the specific areas for which assistance is needed, a realistic review schedule, and the information necessary to perform the review. In establishing the reasonableness of the offered prices, the contracting officer-, (1) Shall obtain certified cost or pricing data when required by 15.403-4, along with data other than certified cost or pricing data as necessary to establish a fair and reasonable price; or. The estimated cost of equity for Glaxo in December 1994 was Cost of Equity = 8.00% + 1.10 (5.50%) = 14.05% This is the cost of equity, if cash flows are estimated in dollars. -Contract exceeds $2,500 (2) Upon the request of a contractor that was required to submit certified cost or pricing data in connection with a prime contract entered into before July 1, 2018, the contracting officer shall modify the contract without requiring consideration, to replace clause 52.215-13, Subcontractor Certified Cost or Pricing DataModifications, with its Alternate I. 74,528 (December 30, 2021). Agencies shall ensure updated information that changes a contracting officers prior final determination is reported into the FAPIIS module of Contractor Performance Assessment Reporting System (CPARS) in the event of a. Depending on the complexity of the acquisition, the evaluation process can last anywhere from a few days to several months. Match. Conditions that may affect the agreements validity shall be reported promptly to the ACO. Normally, adequate price competition establishes a fair and reasonable price (see 15.403-1(c)(1)). 3705(a) and 41U.S.C.3505(a)) if the contracting officer determines that adequate data from sources other than the offeror are not available. When any of the costs in this column have already been incurred (e.g., under a letter contract), describe them on an attached supporting page. Cost reimbursement contracts. (5) Field pricing information and other reports may include proprietary or source selection information (see 2.101). (3) The auditor is responsible for the scope and depth of the audit. 2. You must also submit any data other than certified cost or pricing data obtained from a subcontractor, either actually or by specific identification, along with the results of any analysis performed on that data. 6.303-3 Industrial mobilization; engineering, developmental, or research capability; or expert services (3) When required by paragraph (c) of this subsection, submit subcontractor certified cost or pricing data to the Government as part of its own certified cost or pricing data. -Urgency of requirement (i) Technical, audit, and special reports associated with the cost elements of a proposal, including subcontracts; (ii) Information on related pricing practices and history; (iii) Information to help contracting officers determine commerciality and a fair and reasonable price, including-. (i) Consider the availability of alternative contract vehicles and the feasibility of contracting directly with a subcontractor or subcontractors that will perform the bulk of the work. D&F are used for Options. (iv) Reasons for categorizing items and work efforts as "must make" or "must buy," and proposing to "make" or to "buy" those categorized as "can either make or buy." (ii) Evaluating the effect of the offerors current practices on future costs. If there has been a significant time lapse between the last acquisition and the present one, if the terms and conditions of the acquisition are significantly different, or if the reasonableness of the prior price is uncertain, then the prior price may not be a valid basis for comparison. Requesting unnecessary data can lead to increased proposal preparation costs, generally extend acquisition lead time, and consume additional contractor and Government resources. The KO must exercise the option prior to end date of the current period of performance. Depending upon the estimated dollar value of the acquisition - Answers Because profit or fee is only one of several interrelated variables, the contracting officer shall not agree on profit or fee without concurrent agreement on cost and type of contract. Before applying profit or fee factors, the contracting officer shall exclude from the pre-negotiation cost objective amounts the purchase cost of contractor-acquired property that is categorized as equipment, as defined in FAR 45.101, and where such equipment is to be charged directly to the contract. 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. Commercial Sources, Multi-agency contracts (MACs): 1 . System for Award Management-www.sam.gov This data may include history of sales to non-governmental and governmental entities, cost data, or any other information the contracting officer requires to determine the price is fair and reasonable. -Adequacy of contractor's accounting system (a) General. What are policies associated with Justification and Approval (J&A)? The head of the contracting activity shall justify the requirement for certified cost or pricing data. (2) Additional factors. (a) Taking into consideration the policy at 15.402, the contracting officer shall specify in the solicitation (see 15.408(l) and (m))-. For example, distributing costs equally among line items is not acceptable except when there is little or no variation in base cost. The ARB Coordinators will review packages, schedule and facilitate Pre-ARB and ARB meetings, capture discussions in board minutes, distribute minutes, and coordinate and document approvals/disapprovals. Planning the purchase should begin at the earliest practicable time. (1) Contracting officers decision in accordance with the Contract Disputes statute; (2) Board of Contract Appeals decision; or. What are the Competition Requirements for Simplified Acquisitions? x subsidiary assets and liabilities are adjusted to reflect acquisition-date fair values net of post-acquisition amortization. Acquholllon DEVELOP SIJ'8tegy rl Date, quantity, and dollar value of items received into inventory 9. Strategic market research Upon identification of the acquirer and determination of the acquisition date, business combinations are accounted for through the preparation of a Purchase Price Allocation (PPA). Who Depending upon the estimated dollar value of the acquisition and agency procedures the decision to award will be made by? When an overhead should-cost review is conducted, a separate audit report is required. You can usually find these by doing a google search for something like: excluded. (1) Contracting officers may require prospective contractors to submit make-or-buy program plans for negotiated acquisitions requiring certified cost or pricing data whose estimated value is $15 million or more, except when the proposed contract is for research or development and, if prototypes or hardware are involved, no significant follow-on production is anticipated. )Assumes plantcane crop is sold, and . -May be IDIQ contracts or contracts with annual options Even so, not all startups that are little more than a few engineers working on an idea sketched out in a PowerPoint slide deck are the same. The authorization for the waiver and the supporting rationale shall be in writing. How many "subparts" does the FAR contain? 2. Option fulfills an existing need It is used for the writing soliciations and contracts. PART 3--IMPROPER BUSINESS PRACTICES AND PERSONAL CONFLIC, Required Sources of Supplies and Services. RECOGNIZE THE DUTIES AND FUNCTIONS EXPECTED OF A COR: When performing surveillance on a contract, - ensure government furnished property - verify that required department of labor - conduct site visits, LIST THE FREQUENTLY DELEGATED CONTRACT ADMINISTRATION DUTIES: The COR is authorized to, - provide technical direction that does not change the contract. (1) The contracting officer should contact the cognizant audit office directly, particularly when an audit is the only field pricing support required. a detailed analysis of the various cost elements associated with the acquisition that is used to estimate its cost or price. When obtaining data from the offeror is necessary, unless an exception under 15.403-1(b)(1) or (2) applies, such data submitted by the offeror shall include, at a minimum, appropriate data on the prices at which the same or similar items have been sold previously, adequate for evaluating the reasonableness of the price. (b) Price analysis. Explain the basis for each estimate and how the costs are charged on your accounting records (e.g., included in production costs as direct engineering labor, charged to manufacturing overhead). (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. May be authorized by the Agency Head unless FAR 1.405(e) is applicable -Wholesale Supply Sources (www.gsaglobalsupply.gov) (d) The requirements of this subsection also apply to contracts entered into by an agency on behalf of a foreign government. Cognizant audit activities, when it is appropriate to do so, shall establish and manage regular programs for reviewing selected contractors estimating systems or methods, in order to reduce the scope of reviews to be performed on individual proposals, expedite the negotiation process, and increase the reliability of proposals. The Federal Acquisition Regulation (FAR): Answers to Frequently Asked Questions Congressional Research Service 1 Introduction The federal government is the largest buyer of goods and services in the world,1 and executive branch agenciesparticularly the Department of Defensemake most of these purchases.2 Many (although not all) acquisitions by executive branch agencies are subject to the . What are the two basic types of contracts? What are the two most common types of best Value evaluations? (B) For architect-engineer services for public works or utilities, the contract price or the estimated cost and fee for production and delivery of designs, plans, drawings, and specifications shall not exceed 6 percent of the estimated cost of construction of the public work or utility, excluding fees. acquisition costs proposed is in excess of $1 million, 10 percent of all remaining . When adequate price competition exists (see 15.403-1(c)(1)), generally no additional data are necessary to determine the reasonableness of price. The Government is also entitled to penalty amounts on certain of these overpayments. Urgency (a) The contracting officer is responsible for the determination of a fair and reasonable price for the prime contract, including subcontracting costs. 2. Which type of contract requires a vendor to give their "best effort"? However, the findings and recommendations of the overhead should-cost team, or any separate overhead should-cost review report, shall be provided to the ACO. Select offer is the most advantageous to the government How To Create A Route For Wahoo Elemnt, Determination and Findings, Multi-year contract" means a contract for the purchase of supplies or services for more than 1, but not more than 5, program years. In this case, he could multiply his purchase price of $100,000 by 25% to get a land value of $25,000. Broaden industry participation in meeting Government requirements; and This approach has been constantly refined over the years, without having produced any noticeable A complete discussion of supporting documentation can be found at paragraph 060106 of this . Unless an exception from the requirement to obtain certified cost or pricing data applies under 15.403-1(b)(1) or (b)(2), at a minimum, the contracting officer shall obtain appropriate data, without certification, on the prices at which the same or similar items have previously been sold and determine if the data is adequate for evaluating the reasonableness of the price. (b) Actions authorized under Pub. (b) The contracting officers primary concern is the overall price the Government will actually pay. No, the tickets exceed the gratuity dollar threshold of $20, The _______ is the statutory requirement that ensures full and open competitio. What are the 7 Statutory Exceptions to Full and Open Competition? -Required by statute. that, in the Government's estimation, provides the greatest overall benefit in response to the requirement. Boeing ($22.0 bn) Northrop Grumman ($19.7 bn) General Dynamics ($16.4 bn) Raytheon ($16.1 bn) In the same period, small business contracts totalled $96.8 billion. Procurement Monies - 3 years The completed field pricing assistance results may reference audit information, but need not reconcile the audit recommendations and technical recommendations. Begins when legislation is passed or an executive order is issued that requires regulatory implementation . ARB . (2) Unless prohibited because an exception at 15.403-1(b) applies, the head of the contracting activity, without power of delegation, may authorize the contracting officer to obtain certified cost or pricing data for pricing actions below the pertinent threshold in paragraph (a)(1) of this subsection, provided the action exceeds the simplified acquisition threshold. -Technical and Requirements personnel are responsible for submitting J&A. (vii) Any recommendations to defer make-or-buy decisions when categorization of some items or work efforts is impracticable at the time of submission. Acquisition premium represents the increased . When you feel like it C. Monthly D. When net income is negative C. Monthly Companies should recognize inventory as an expense when purchased. How many nieces and nephew luther vandross have? Enter in Column (10) the costs of work in process as determined from your records or inventories at the cutoff date. Fixed price contracts As well, generally internally generated goodwill and other intangible assets can not be recognized on the balance sheet. When make-or-buy programs are required, the Government may reserve the right to review and agree on the contractors make-or-buy program when necessary to ensure negotiation of reasonable contract prices, satisfactory performance, or implementation of socioeconomic policies. Instead, these reviews evaluate the economy and efficiency of the contractors existing work force, methods, materials, equipment, real property, operating systems, and management. Any method of distributing costs to line items that distorts the unit prices shall not be used. 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. Bellway Bespoke Additions Brochure, (C) Expert technical advice should be obtained when analyzing similar items, or commercial products or commercial services that are of a type, or requiring minor modifications for commercial products, to ascertain the magnitude of changes required and to assist in pricing the required changes. 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. AF PGI 5315 Contracting by Negotiation AF PGI 5315.209-90 Solicitation Provisions and Contract Clauses (a) The contracting officer may include language in Section L (or equivalent in a solicitation for the acquisition of a commercial item) substantially the same as the following when a DD Form 254, Contract Security Classification Specification is a requirement at time of award: "The offeror . This article explores the implications of acquisition value assessment for homesteaded property established in 1983 in Muscogee County, Georgia. (4) Patent application serial numbers, or other basis on which the royalty is payable. In the event the amounts are not segregated in or otherwise available from your records, enter in this column your best estimates. (A) Data related to prices (e.g., established catalog or market prices, sales to non-governmental and governmental entities), relying first on data available within the Government; second, on data obtained from sources other than the offeror; and, if necessary, on data obtained from the offeror. (i) Any acquisition that the contracting officer determines meets the commercial product or commercial service definition in 2.101, or any modification, as defined in paragraph (3)(i) of the commercial product definition, that does not change a commercial product to other than commercial, is exempt from the requirement for certified cost or pricing data. Value of Digital with Synergy = $6,963 mil - Value of Cash paid in deal = $ 30 * 146.789 mil shrs = $4,403 mil - Digitial's Outstanding Debt (assumed by Compaq) $1,006 mil Remaining Value $ 1,554 mil / number of Shares outstanding 146.789 = Remaining Value per Share $ 10.59 Compaq's value per share at time of Exchange Offer $ 27 Goes well beyond business valuation to address the specific needs of business buyers, transaction advisors and accountants . (b) Actions authorized under Pub. 1.6 Contracting Authority and Responsibilities Describe what illustrations should show about a product. -Excess from other agencies (1) When a prime contractor includes defective subcontract data in arriving at the price but later awards the subcontract to a lower priced subcontractor (or does not subcontract for the work), any adjustment in the prime contract price due to defective subcontract data is limited to the difference (plus applicable indirect cost and profit markups) between the subcontract price used for pricing the prime contract, and either the actual subcontract price or the actual cost to the contractor, if not subcontracted, provided the data on which the actual subcontract price is based are not themselves defective. Exhibit 519.104 depending upon the type of appraisaL No changes to the appraisal . Restaurants In Sorrento With A View, Av. (3) The contracting officer should request technical assistance in evaluating pricing related to items that are "similar to" items being purchased, or commercial products or commercial services that are of a type, or requiring minor modifications for commercial products, to ascertain the magnitude of changes required and to assist in pricing the required changes. (a) Purchase supplies and services from responsible sources at fair and reasonable prices. (i) The auditor shall not reveal the audit conclusions or recommendations to the offeror/contractor without obtaining the concurrence of the contracting officer. Also show how the costs would be allocated to the units at their various stages of contract completion.
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