§ 2-640. Cost of pricing data.

(a)

Prime contractor data. A contractor shall submit cost or pricing data in accordance with regulations issued hereunder, which shall be subject to audit.

(b)

Price adjustment. Any contract or change or modification thereto under which a certificate is required shall contain a provision that the price to the county, including profit or fee, shall be adjusted to exclude any significant sums by which the procurement director 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)

Cost or pricing data not required. The requirements of this section do not apply to contracts where the price negotiated is based on adequate price competition, established catalogue or market prices of commercial items sold in substantial quantities to the general public, prices set by law or regulation, or in exceptional cases where the procurement director determines that the requirements of this section may be waived.

(Ord. No. O-08-5-101, § 2(Exh. A), 6-23-08; Ord. No. O-10-11-101, § 1, 12-17-10; Ord. No. O-16-3-101 , § 1, 4-25-16)