2011 Louisiana Laws
TITLE 39 — Public finance
RS 39:1507 — Cost or pricing data
§1507. Cost or pricing data
A. A contractor shall submit cost or pricing data and shall certify that to the best of his knowledge and belief the cost or pricing data submitted was accurate, complete, and current as of a mutually determined specified date prior to the date of (1) pricing of any negotiated contract where the total contract price is expected to exceed seventy-five thousand dollars or (2) pricing of any contract modification which is expected to exceed five thousand dollars or such lesser amount as may be prescribed by the director of contractual review.
B. Any contract, change, or modification thereto 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 Office of Contractual Review finds that such price was increased because the contractor-furnished cost or pricing data which, as of the date agreed upon between the parties, was inaccurate, incomplete, or not current.
C. The requirements of this Section need not be applied to contracts where the price negotiated is based on adequate price competition, where well known current prices are set by law or regulation, or in exceptional cases where it is determined in writing that the requirements of this Section may be waived, and the reasons for such waiver are stated in writing.
Added by Acts 1978, No. 772, §1. Acts 1993, No. 123, §1.
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