§103D-312 Cost or pricing data. (a) A contractor, except as provided in subsection (c), shall submit cost or pricing data and shall certify that, to the best of the contractor's knowledge and belief, the cost or pricing data submitted is accurate, complete, and current as of a mutually determined specified date prior to the date of:
(1) The pricing of any contract awarded by competitive sealed proposals or pursuant to the sole source procurement authority, where the total contract amount is expected to exceed an amount established by rules adopted by the policy board; or
(2) The pricing of any change order or contract modification that is expected to exceed an amount established by rules adopted by the policy board.
(b) Any contract, change order, or contract modification under which a certificate is required shall contain a provision that the price to the State, including profit or fee, shall be adjusted to exclude any significant sums by which the State finds that the price was increased because the contractor furnished cost or pricing data that was inaccurate, incomplete, or not current as of the date agreed upon between the parties.
(c) The requirements of this section shall not apply to contracts:
(1) Where the contract price is based on adequate price competition;
(2) Where the contract price is based on established catalog prices or market prices;
(3) Where the contract prices are set by law or rule; or
(4) Where it is determined in writing in accordance with rules adopted by the policy board that the requirements of this section may be waived, and the reasons for the waiver are stated in writing. [L Sp 1993, c 8, pt of §2; am L 1997, c 352, §23]
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