Price Reasonableness and Completeness Clause Samples

The Price Reasonableness and Completeness clause establishes that the prices quoted in a contract must be fair, competitive, and include all necessary costs for the goods or services provided. In practice, this means the contractor must justify that their pricing is not excessive and that no essential expenses are omitted, often requiring documentation or market comparisons. This clause ensures that the buyer receives a comprehensive and justifiable price, preventing hidden costs and protecting against overcharging.
Price Reasonableness and Completeness. This solicitation is being made under anticipated conditions of adequate competition. Should the KO determine that conditions of adequate competition do not exist, and no exceptions apply, the Offeror may be required to provide certification of current cost or pricing data in accordance with FAR 15.406-2. The Government will verify that all solicitation requirements have been priced, figures are correctly calculated, and prices are presented in a clear and useful format. Price submissions should be sufficiently detailed to demonstrate their reasonableness. As this is a competed Firm Fixed Price effort, competition is largely determinative of price reasonableness.
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Price Reasonableness and Completeness. This solicitation is being made under anticipated conditions of adequate competition. This section is to assist you in submitting information other than certified cost or pricing data that is required to evaluate the reasonableness, completeness, realism, balance, and/or affordability of proposed price/cost. Should the Contracting Officer determine that conditions of adequate competition do not exist, and no exceptions apply, the Offeror may be required to provide certification of current cost or pricing data in accordance with FAR 15.406-2. As this is a competed Firm Fixed Price effort, competition is largely determinative of price reasonableness.
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Price Reasonableness and Completeness. This solicitation is being made under anticipated conditions of adequate competition. This section is to assist you in submitting information other than certified cost or pricing data that is required to evaluate the reasonableness and completeness of your proposed price. Should the KO determine that conditions of adequate competition do not exist, and no exceptions apply, the Offeror may be required to provide certification of current cost or pricing data in accordance with FAR 15.406-2 The Government will verify that all solicitation requirements have been priced, figures are correctly calculated, and prices are presented in a clear and useful format. Note that unreasonably high proposed prices, initially or subsequently, may be grounds for eliminating a proposal from competition. While individual ceiling rates from the yearly pricing schedules will not be used to perform the trade-off, these prices will be evaluated for fair and reasonableness and balanced pricing. Offerors that unreasonably escalate rates in the out years will be considered to have unbalanced pricing. Additionally, unbalanced pricing poses an unacceptable risk to the Government and may be a reason to reject an Offeror’s proposal. Price submissions should be sufficiently detailed to demonstrate their reasonableness. As this is a competed Firm Fixed Price effort, competition is largely determinative of price reasonableness.
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Price Reasonableness and Completeness. This section is to assist in submitting information other than pricing data that is required to evaluate the reasonableness and completeness of the proposed price. The
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Price Reasonableness and Completeness. This section is to assist in submitting information other than pricing data that is required to evaluate the reasonableness and completeness of the proposed price. The Government will verify that all solicitation requirements have been priced, figures are correctly calculated, and prices are presented in a clear and useful format. The Government reserves the right, but is not obligated, to review prices for realism. Note: unreasonably high- proposed prices, initially or subsequently, may be grounds for eliminating a proposal from competition. Additionally, unbalanced pricing poses an unacceptable risk to the Government, and may be a reason to reject an offeror’s proposal. Price submissions should be sufficiently detailed to demonstrate their reasonableness and be adequate enough to support and sustain a Defense Contract Audit Agency (DCAA) audit.
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Related to Price Reasonableness and Completeness

  • Reasonableness In the event that the provisions of this Section 10 shall ever be deemed to exceed the time, scope or geographic limitations permitted by applicable laws, then such provisions shall be reformed to the maximum time, scope or geographic limitations, as the case may be, permitted by applicable laws.

  • Completeness This Grant Contract is complete and contains the entire understanding between the parties relating to the subject matter contained herein, including all the terms and conditions of the parties’ agreement. This Grant Contract supersedes any and all prior understandings, representations, negotiations, and agreements between the parties relating hereto, whether written or oral.

  • Accuracy If the data importer becomes aware that the personal data it has received is inaccurate, or has become outdated, it shall inform the data exporter without undue delay. In this case, the data importer shall cooperate with the data exporter to erase or rectify the data.

  • Standards for Determining Commercial Reasonableness Borrower and Silicon agree that a sale or other disposition (collectively, "sale") of any Collateral which complies with the following standards will conclusively be deemed to be commercially reasonable: (i) Notice of the sale is given to Borrower at least seven days prior to the sale, and, in the case of a public sale, notice of the sale is published at least seven days before the sale in a newspaper of general circulation in the county where the sale is to be conducted; (ii) Notice of the sale describes the collateral in general, non-specific terms; (iii) The sale is conducted at a place designated by Silicon, with or without the Collateral being present; (iv) The sale commences at any time between 8:00 a.m. and 6:00 p.m; (v) Payment of the purchase price in cash or by cashier's check or wire transfer is required; (vi) With respect to any sale of any of the Collateral, Silicon may (but is not obligated to) direct any prospective purchaser to ascertain directly from Borrower any and all information concerning the same. Silicon shall be free to employ other methods of noticing and selling the Collateral, in its discretion, if they are commercially reasonable.

  • Completeness and Modification This Agreement constitutes the entire understanding between the parties hereto superseding all prior and contemporaneous agreements or understandings among the parties hereto concerning the Employment Agreement. This Agreement may be amended, modified, superseded or canceled, and any of the terms, covenants, representations, warranties or conditions hereof may be waived, only by a written instrument executed by the parties or, in the case of a waiver, by the party to be charged.