Federal News Network

NOVEMBER 3, 2023

Specifically, the PAP states that “[t]he term “fair and reasonable” is generally considered to mean a price that is fair to both parties in a transaction , not higher than what the competitive market would bear or a price that a prudent and competent buyer would pay for a product or service under competitive market conditions.”

Price 78

Price Evaluation Negotiation Purchasing 78

The Coalition for Government Procurement

NOVEMBER 3, 2023

Specifically, the PAP states that “[t]he term “fair and reasonable” is generally considered to mean a price that is fair to both parties in a transaction , not higher than what the competitive market would bear or a price that a prudent and competent buyer would pay for a product or service under competitive market conditions.” See Section 2.

Price 49

Price Evaluation Negotiation Purchasing 49

The Coalition for Government Procurement

NOVEMBER 2, 2023

Specifically, the PAP states that “[t]he term “fair and reasonable” is generally considered to mean a price that is fair to both parties in a transaction , not higher than what the competitive market would bear or a price that a prudent and competent buyer would pay for a product or service under competitive market conditions.” See Section 2.

Supply Chain 52

Supply Chain Price Contract E-procurement 52