(viii) Any other information the contracting officer requires in order to evaluate the program. will provide a debriefing to the SSA upon request. The other elements of indirect costs should be evaluated to determine whether they merit only limited profit consideration because of their routine nature, or are elements that contribute significantly to the proposed contract. PDF DEPARTMENT OF DEFENSE - Under Secretary of Defense for Acquisition and In establishing the reasonableness of the offered prices, the contracting officer -. Estimated dollar value -People Who Are Blind or Severely Disabled (NIB/NISH or Ability One) (ii) The clause may be used when the total estimated contract or order value is below the thresholds identified in 15.408(n)(2)(i) and for any contract type, when the contracting officer determines that inclusion of the clause is appropriate. What is the Primary method of contracting for construction? List of facts or justification (3) 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 reflect a $2 million threshold for obtaining certified cost or pricing data on subcontracts entered on and after July 1, 2018. Actual annual usage was 5,500 hours . Apostolos Tsitsipas Born, 15.402 Pricing policy. _______________________ strategies have become the preferred contracting method and require structuring all aspects of an acquisition around the purpose of the work to be performed. The acquisition is projected to be accretive to earnings in 2022, the first full year of combined operations. DealSense is the all-in-one system for business valuation, pricing, financing, projecting and evaluating the economics of middle-market mergers and acquisitions including combinations, consolidations and rollups. -Use at least 2 quotes from two sources not used before. What are the three types of solicitations? 2377. s. tatutory authority. true ETHICS PROCUREMENT PERSONNEL: You are a COR working on the third year of a 5-year contract (football tickets) Award times vary depending on the dollar value and complexity of the effort and are predicated upon the receipt of the three core documents (PWS, NTB, and IGCE). )Assumes plantcane crop is sold, and . What is the policy for providing for full and open competition? Should-cost reviews differ from traditional evaluation methods because they do not assume that a contractors historical costs reflect efficient and economical operation. The contracting officer shall-. Statement of need (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. (a) When certified cost or pricing data are required, offerors are required to describe any forward pricing rate agreements (FPRAs) in each specific pricing proposal to which the rates apply and to identify the latest cost or pricing data already submitted in accordance with the FPRA. (c) Overhead should-cost review. (B) In order to make this determination, the contracting officer may request the offeror to submit prices paid for the same or similar commercial services under comparable terms and conditions by both Government and commercial customers; and. ", Should begin as soon as the agency need is identified. This does not relieve the contracting officer from the responsibility to analyze the contractors submission, including subcontractors certified cost or pricing data. Location and ID of CPU device 11. (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. commercial item? (3) The contracting officer shall ensure that data used to support price negotiations are sufficiently current to permit negotiation of a fair and reasonable price. (b) The auditor shall send a copy of the estimating system survey report and a copy of the official notice of corrective action required to each contracting office and contract administration office having substantial business with that contractor. ***Insert the day, month, and year of signing, which should be as close as practicable to the date when the price negotiations were concluded and the contract price was agreed to. (ii) The contracting officers signature on the price negotiation memorandum or other documentation supporting determination of fair and reasonable price documents the contracting officers determination that the statutory price or fee limitations have not been exceeded. 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-. Profit consideration should correspond to the managerial and technical effort involved. 5 Key Steps to Prepare a Purchase Price Allocation After A - MNP At least 15 days prior to solicitation or proposed contract action, FAR 5.101(a)(2) Proposed contract actions expected to exceed $15,000, but not expected to exceed $25,000by displaying in a public place, or by any appropriate electronic means. The prime contractor is responsible for managing contract performance, including planning, placing, and administering subcontracts as necessary to ensure the lowest overall cost and technical risk to the Government. Chapter 3 LS Flashcards | Chegg.com The completed field pricing assistance results may reference audit information, but need not reconcile the audit recommendations and technical recommendations. (vi) Corporate reorganizations, mergers, acquisitions, or takeovers. Compatibility with other systems What are the maximum amount of years for a service or supply contracts? (B) Conversion direct labor. (3) Cost realism analyses may also be used on competitive fixed-price incentive contracts or, in exceptional cases, on other competitive fixed-price-type contracts when new requirements may not be fully understood by competing offerors, there are quality concerns, or past experience indicates that contractors proposed costs have resulted in quality or service shortfalls. . The Services Acquisition Process includes planning, development and execution. true. 50% of the cash consideration payable by the Company for the Acquisition will be lent by Sure Victor to China Rongsheng, a subsidiary of Value Link and therefore a subsidiary of the Company upon . Analyze the certified cost or pricing data and submit the results of your analysis of the prospective sources proposal.When submission of a prospective sources certified cost or pricing data is required as described in this paragraph, it must be included as part of your own certified cost or pricing data. Data within the contractors or a subcontractors organization on matters significant to contractor management and to the Government will be treated as reasonably available. Acquisition Streamlining (iii) In arriving at the amount due for penalties on contracts where the submission of defective certified cost or pricing data was a knowing submission, the contracting officer shall obtain an amount equal to the amount of overpayment made. The scope of a should-cost review can range from a large-scale review examining the contractors entire operation (including plant-wide overhead and selected major subcontractors) to a small-scale tailored review examining specific portions of a contractors operation. (1) When the contracting officer determines that prices agreed upon are based on adequate price competition (see standards in paragraph (c)(1) of this subsection); (2) When the contracting officer determines that prices agreed upon are based on prices set by law or regulation (see standards in paragraph (c)(2) of this subsection); (3) When a commercial product or commercial service is being acquired (see standards in paragraph (c)(3) of this subsection); (4) When a waiver has been granted (see standards in paragraph (c)(4) of this subsection); or. This dollar range is current as of the date of issuance of interim acquisition policy memorandum No. (ii) Documents the reasons in the contract file. Column(5) minus Column(4) equals Column(6). Enter the number of units remaining to be completed under the contract. Revenues: ATM operating revenues $ 255,018 $ 291,799 (12.6)%. They assist in the contracting officers determination of fair and reasonable price. Trade shows Change in ROE of combined firm. each acquisition of suppliesor services that has an anticipated dollar value above the micro-purchasethreshold, but not over the simplified acquisition threshold, shall beset aside for small business unless the contracting officer determinesthere is not a reasonable expectation of obtaining offers from twoor more responsible small business 1. CONTRACT AWARD: Depending upon the estimated dollar value of the acquisition: . the contracting officer or the source selection authority INVOICE: Wide Area Work Flow (WAWF) is a Paperless Contracting . The results of estimating system reviews shall be documented in survey reports. Price adjustment amounts must consider both increases and decreases (e.g., a $500,000 modification resulting from a reduction of $1,500,000 and an increase of $1,000,000 is a $2,500,000 pricing adjustment exceeding the $2,000,000 threshold). Form USM-416, Individual Acquisition Planning, must be completed for each new contract action above the dollar threshold of $100,000. You, as a COR, are giving technical direction to the contractor. (See the Certificate of Current Cost or Pricing Data at 15.406-2.). (a) General. (a) The contracting officer shall document in the contract file the principal elements of the negotiated agreement. Capital assets should be valued at cost including all ancillary charges necessary to place the asset in its intended location and condition for use. ** Insert the day, month, and year when price negotiations were concluded and price agreement was reached or, if applicable, an earlier date agreed upon between the parties that is as close as practicable to the date of agreement on price. The governments's unilateral right in the contract whereby, for a specified time, the government may choose to purchase additional supplies or services or extend the term of the contract. Describe what illustrations should show about a product. It typically takes 8-10 months for efforts less than $50M, 10-12 months from efforts greater than $50M but less than $100M, and 12+ months for efforts greater than $100M. (A) The repayment amount; (B) The penalty amount (if any); (C) The interest amount through a specified date; and. Reference (A) Use the basic clause in solicitations and contracts when the estimated value equals or exceeds $100,000, but is less than $182,000 [183, 000] Reg. and depending on the size of the acquisition or disposition, may require . Goes well beyond business valuation to address the specific needs of business buyers, transaction advisors and accountants . (2) A description of the acquisition, including appropriate identifying numbers (e.g., RFP No.). (d) The requirements of this subsection also apply to contracts entered into by an agency on behalf of a foreign government. (A) Use the basic clause in solicitations and contracts when the estimated value equals or exceeds $100,000, but is less than $191,000 The K values are based on 1968 dollars. (2) The contractors format for submitting the data should be used (see 15.403-5(b)(2)). Acquisition Type - purchased, leased, or donated (gift) 8. The contracting officer shall not reprice the contract solely because the profit was greater than forecast or because a contingency specified in the submission failed to materialize. Enter your estimate for cost of work added by the change. (iii) Document the basis for such determination. (h)Ensuring that the principles of this subpart are used, as appropriate, for those acquisitions that do not require a written plan as well as for those that do. Exhibit 519.104 depending upon the type of appraisaL No changes to the appraisal . Full and Open Competition Government? depending upon the estimated dollar value of the acquisition Purity Ice Cream Company bought a new ice cream maker at the beginning of the year at a cost of$9,000. The services contracting that the Gov. The threshold for obtaining certified cost or pricing data is $750,000 for prime contracts awarded before July 1, 2018, and $2 million for prime contracts awarded on or after July 1, 2018.When a clause refers to this threshold, and if the threshold is adjusted for inflation pursuant to 1.109(a), then pursuant to 1.109(d) the changed threshold applies throughout the remaining term of the contract, unless there is a subsequent threshold adjustment. Task Denition and Framework Assume a classier induction problem where each instance is represented with n independent . Where is the balance assigned to the non-controlling interest reported in the consolidated balance sheet? -FAR 13.104 - Contracting Officer must promote competition: (1) The contracting officer should request field pricing assistance when the information available at the buying activity is inadequate to determine a fair and reasonable price. 3705(b) and 41 U.S.C. This factor measures the complexity of the work and the resources required of the prospective contractor for contract performance. -Cost analysis Check the applicable block below based on the acquisition circumstance. The contracting officer shall insert the provision at 52.215-16, Facilities Capital Cost of Money, in solicitations expected to result in contracts that are subject to the cost principles for contracts with commercial organizations (see subpart 31.2). What document is required for other than full and open competition? 2. All responsible sources permitted to compete This results in a change in delivery schedule and increased cost to the contractor. What are policies associated with Justification and Approval (J&A)? (5) The contracting officer shall not require any prospective contractor to submit breakouts or supporting rationale for its profit or fee objective but may consider it, if it is submitted voluntarily. depending upon the estimated dollar value of the acquisition (3) Obtain the type and quantity of data necessary to establish a fair and reasonable price, but not more data than is necessary. This potential remuneration element and the Governments estimate of allowable costs to be incurred in contract performance together equal the Governments total prenegotiation objective. (6) If certified cost or pricing data were required, the extent to which the contracting officer-. the contracting officer or the source selection authority, INVOICE: Wide Area Work Flow (WAWF) is a Paperless Contracting, ETHICS PROCUREMENT PERSONNEL: You are a COR working on the third year of a 5-year contract (football tickets), . Identification of the justification rationale [see 8.405-6(a) and (b)] and, if applicable, a demonstration of the proposed contractor's unique qualifications to provide the required supply or service. (3) Cost analysis shall be used to evaluate the reasonableness of individual cost elements when certified cost or pricing data are required. Depending upon the estimated dollar value of the acquisition: the contracting officer or the source selection authority. Set-Asides for Small Business Concerns 1. - = guessed but unknown whether correct or not. In conducting this evaluation, the contracting officer shall ensure that the effects of inefficient or uneconomical past practices are not projected into the future. FAR 8.002(2) Services - Acquisition Premium: An acquisition premium is the difference between the estimated real value of a company and the actual price paid to obtain it. (i)Designating planners for acquisitions. (2) Under cost-reimbursement contracts and under all fixed-price contracts except firm-fixed-price contracts and fixed-price contracts with economic price adjustment, payments to subcontractors that are higher than they would be had there been no defective subcontractor certified cost or pricing data shall be the basis for disallowance or nonrecognition of costs under the clauses prescribed in 15.408(b) and (c).