article thumbnail

Why pricing and quantities go hand-in-hand for a fixed-price contract

Federal News Network

A contractor got into a pricing squeeze when the customer, in this case the Marine Corps, way underestimated the quantities for the services under the fixed-price contract. Why don’t you, contractor, just submit an REA for a go forward, change the unit pricing. This one just seeks a change in the unit prices.

Price 52
article thumbnail

What Happens When an Agency Issue Orders Under a Requirements Contract, Then Reduces Quantities and Partially De-Obligates Funds

Public Contracting Institute

The decision was mixed, depending on the type of pricing was in the various CLINs and the issue of whether a release applied. Claim for full amount in task order Vectrus claimed it was entitled to the full amount in Task Order 63, because it was a fully funded, fixed price contract that set forth definite, not estimated quantities.

professionals

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Trending Sources

article thumbnail

Wunderman Thompson Books $1.9B Marine Corps Contract for Recruitment Advertising Support

GovCon Wire

The Department of Defense said Friday the firm-fixed-price and cost, indefinite-delivery/indefinite-quantity contract, initially worth $834.1 Wunderman Thompson, an advertising agency that recently merged with VMLY&R to form VML, has secured a hybrid contract potentially valued at $1.91 billion from the U.S. million,

Contract 105
article thumbnail

Government Contracts Cost and Pricing: The Truth in Negotiations Act, or Whatever the Kids Are Calling It These Days (Part 3)

Government Contracts & Investigations

Welcome back to the Cost Corner, where we provide practical insight into the complex cost and pricing requirements that apply to Government Contractors. 3] TINA defines cost or pricing data to mean all facts that, as of the relevant date, a prudent buyer or seller would reasonably expect to affect price negotiations significantly. [4]

article thumbnail

Mastering Inflation: Navigating Fixed-Price Economic Price Adjustments in Government Contracts

Capital Edge Consulting

Larger organizations, especially those with in-house DCAA auditors will likely experience a higher quantity of floor checks. The post Mastering Inflation: Navigating Fixed-Price Economic Price Adjustments in Government Contracts appeared first on Capital Edge Consulting. Contact the experts at Capital Edge Consulting today.

Price 52
article thumbnail

Energy Department Awards TRANSCOM Technical Support Services Contract to CCS-Ivory Cloud Joint Venture

ExecutiveBiz

The up to $15 million indefinite-delivery/indefinite-quantity contract will run from July 1, 2024, to June 30, 2029, and feature firm-fixed-price task orders, the DOE said Tuesday. The contract will primarily provide technical […]

Contract 105
article thumbnail

Noble Secures $562M DLA Contract Modification for Facility Support Services

GovCon Wire

The Department of Defense said Thursday the modification to the firm-fixed-price, indefinite-delivery/indefinite-quantity contract exercises the second 18-month option period of the two-year base contract million to various facilities around the globe.