Mississippi Administrative Code
Title 12 - Finance and Administration
Part 6 - Office of Purchasing, Travel and Fleet Management
Chapter 3 - Source Selection and Contract Formation
Sec2 12-6-3.115 - Cost or Pricing Data


Current through September 24, 2024

(1) Contractor Certification

A contractor shall when requested by the buying entity except as provided in Subsection 3.115(3), Cost or Pricing Data Not Required, submit cost or pricing data and shall certify that, to the best of its knowledge and belief, the cost or pricing data submitted was accurate, complete, and current as of a mutually determined specified date.

(2) Price Adjustment

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 such price was increased because the contractor furnished cost or pricing data was inaccurate, incomplete, or not current as of the date agreed upon between the parties.

(3) Cost or Pricing Data Not Required

The requirements of this section need not be applied to contracts:

(a) Where the contract price is based on adequate price competition;

(b) Where the contract price is based on established catalog prices or market prices;

(c) Where contract prices are set by law or regulations; or

(d) 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.

(4) When it is determined that offerer or bidder should provide cost or pricing data to justify a bid or proposal, this regulation may be used as a guideline for such negotiation.

Disclaimer: These regulations may not be the most recent version. Mississippi may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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