Arkansas Code § 19-11-237 - Cost-Plus-a-Percentage-Of-cost and Cost-Plus-a-Fixed-Fee Contracts

As used in this subchapter, unless the context otherwise requires, the cost-plus-a-percentage-of-cost and cost-plus-a-fixed-fee system may be used under the authority of the State Procurement Director when:

(1) There exists no other economically practicable price arrangement to secure the commodity;

(2) A cost saving may be proved over the least expensive alternative; or

(3) The pricing schedule involved is tied to an industry standard or other reliable system of cost prediction.

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Last modified: November 15, 2016