Common use of Price Reasonableness and Completeness Clause in Contracts

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.