Forward Pricing Rates Agreements

/Forward Pricing Rates Agreements

Forward Pricing Rates Agreements

This does not describe the process of agreeing on futures prices. This regulation argues in favour of underlying cost or price data; It provides that the contractor does not certify that the underlying cost or price data is up-to-date, accurate and complete at the time of the agreement, but at the time of the price agreement of each agreement. In addition, the purchaser of the adjudicator powers (PCO) must use the collective agreement or involve the contract management officer (ACO) when the agreement is to be reviewed. DFARS 215.407-3 only adds a contract authorization if a DoD PCO chooses not to use a collective agreement. (c) at the time of the agreement, contract agents do not require a certificate for data provided in support of FPRA agreements or other prior agreements. When a pre-fixing agreement or other prior agreement is used to assess a contractual action requiring a certificate, the certificate supporting that action covers the data provided in support of the FPRA or other prior agreements, as well as all other data that supports the action. In this case too, there are not many details on the tariff agreement. Instead, this regulation requires the ACO to determine whether the benefits of the agreement are consistent with efforts to establish and control a FPRA, and adds that this is normally the case where the contractor has a large volume of public contract prices. It is interesting to note that the definition of « significant volume of contract prices of the state » is not defined (see the review of DFARS IGP (A) (S-75) for the definition of « significant volume of contract prices of the State »). The introduction of a FPRA falls within the special costs and FAR 15.407-3 and part 42.17.

The FPRA is very useful for contractors who suffer from a considerable volume of government contract proposals. If there is a FPRA in place, the contractor and the government do not need to spend time negotiating contracts to negotiate indirect fee rates – the proposed indirect rates are already settled. Anyone can apply for a FPRA. It can be requested by the contractor or by the bidder or initiated by the ACO.

By | 2021-04-09T19:13:09+01:00 avril 9th, 2021|Non classé|0 Comments

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