There are two approaches to pricing Government contracts: cost-based acquisition and price-based acquisition. Price-based acquisition mitigates some Government contract risk by relying on “data other than certified cost or pricing data.” For data other than certified cost or pricing data, the Government’s audit rights are limited to any time before award and do not apply to cost or profit information for the commercial items or services.
Course Topics Include:
- Defining commercial items and services
- Substantiating commercial pricing
- FAR Part 12 contract terms
- Mitigating price-based acquisition challenges