13 Mar 2025
📝Overview of Federal Acquisition Regulation Contract Pricing Requirements
Submission for OMB Review; Certain Federal Acquisition Regulation Part 16 Contract Pricing Requirements
Summary
Under the provisions of the Paperwork Reduction Act, the Regulatory Secretariat Division has submitted to the Office of Management and Budget (OMB) a request to review and approve an extension of a previously approved information collection requirement regarding certain Federal Acquisition Regulation (FAR) part 16 contract pricing requirements.
Agencies
- Defense Department
- General Services Administration
- National Aeronautics and Space Administration
Business Impact
$$ - Med
The content outlines compliance requirements for contractors regarding Federal Acquisition Regulation (FAR) pricing adjustments, which affect how businesses negotiate and manage contracts. This includes notifying changes in costs, which could impact financial planning and strategy for businesses involved in government contracts.