Notice2025-03999
Submission for OMB Review; Certain Federal Acquisition Regulation Part 16 Contract Pricing Requirements
Primary source
Metadata and text below are from the Federal Register, a public-domain U.S. government work. Always verify the official published version before relying on it for any legal matter.
Published
March 13, 2025
Issuing agencies
Defense DepartmentGeneral Services AdministrationNational Aeronautics and Space Administration
Abstract
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.
Full Text
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<title>Federal Register, Volume 90 Issue 48 (Thursday, March 13, 2025)</title>
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[Federal Register Volume 90, Number 48 (Thursday, March 13, 2025)]
[Notices]
[Pages 11969-11970]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2025-03999]
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DEPARTMENT OF DEFENSE
GENERAL SERVICES ADMINISTRATION
NATIONAL AERONAUTICS AND SPACE ADMINISTRATION
[OMB Control No. 9000-0067; Docket No. 2024-0053; Sequence No. 18]
Submission for OMB Review; Certain Federal Acquisition Regulation
Part 16 Contract Pricing Requirements
AGENCY: Department of Defense (DOD), General Services Administration
(GSA), and National Aeronautics and Space Administration (NASA).
ACTION: Notice.
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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.
DATES: Submit comments on or before April 14, 2025.
ADDRESSES: Written comments and recommendations for this information
collection should be sent within 30 days of publication of this notice
to <a href="http://www.reginfo.gov/public/do/PRAMain">www.reginfo.gov/public/do/PRAMain</a>. Find this particular information
collection by selecting ``Currently under Review--Open for Public
Comments'' or by using the search function.
FOR FURTHER INFORMATION CONTACT: <a href="/cdn-cgi/l/email-protection#1650574446797a7f756f5671657738717960"><span class="__cf_email__" data-cfemail="5f191e0d0f3033363c261f382c3e71383029">[email protected]</span></a>, or call 202-969-
4075.
[[Page 11970]]
SUPPLEMENTARY INFORMATION:
A. OMB Control Number, Title, and Any Associated Form(s)
9000-0067, Certain Federal Acquisition Regulation Part 16 Contract
Pricing Requirements.
B. Need and Uses
This clearance covers the information that contractors must submit
to comply with the following FAR requirements:
<bullet> FAR 52.216-2, Economic Price Adjustment--Standard
Supplies; FAR 52.216-3, Economic Price Adjustment--Semistandard
Supplies; and FAR 52.216-4, Economic Price Adjustment--Labor and
Material. These clauses require contractors on contracts that provide
for economic price adjustments to promptly notify the contracting
officer of any increases or decreases to established prices or labor
rates (including fringe) because of certain contingencies, such as
increases or decreases to established catalog or market prices or
changes to cost indexes for labor or materials.
The contracting officer uses the information provided by the
contractor to negotiate price adjustments under the contract due to the
contingency specified in the contract.
<bullet> FAR 52.216-5, Price Redetermination-Prospective.
Paragraph (c) of this clause requires a contractor on a fixed-price
contract with prospective price redetermination to submit to the
Government (within an agreed upon timeframe) a statement of costs
incurred for the most recent period of performance, the proposed prices
for the upcoming contract period, and any supporting or relevant
documentation. Per paragraph (h) of this clause, during periods where
firm prices have not been established, the contractor must also submit
quarterly statements that includes a breakdown of total contract
prices, costs, and profit incurred and all invoices accepted for
delivered items or services for which final prices have not been
established.
The contracting officer uses the information to negotiate/
redetermine fair and reasonable prices for supplies and services that
may be delivered or performed under the contract in the period
following the effective date of price redetermination.
<bullet> FAR 52.216-6, Price Redetermination--Retroactive.
Paragraph (c) of this clause requires a contractor on a fixed-
ceiling-price contract with retroactive price redetermination to submit
to the Government (within an agreed upon timeframe after completion of
the contract) the proposed prices, all costs incurred in performing the
contract, and any supporting or relevant documentation. Per paragraph
(g) of this clause, until final price redetermination has been
completed, the contractor must also submit a quarterly statement that
includes a breakdown of total contract prices, costs, and interim
profit incurred and all invoices accepted for delivered items.
The contracting officer uses the information provided by the
contractor to negotiate/redetermine fair and reasonable prices for
supplies and services that have already been delivered or performed
under the contract.
<bullet> FAR 52.216-16, Incentive Price Revision--Firm Target; and
FAR 52.216-17, Incentive Price Revision--Successive Targets. These
clauses require contractors on fixed price incentive (firm or
successive target) contracts to submit to the Government on a quarterly
basis a statement regarding total contract prices, costs, portions of
interim profit, and amounts of invoices or vouchers for completed work
that is cumulative from the beginning of the contract (see 52.216-16(g)
and 52.216-17(i)). Upon final delivery of supplies or completion of
services for covered line items, the contractor is required to submit a
detailed statement of all costs incurred up to the end of that month in
performing all work under the items; an estimate of costs of further
performance, if any, that may be necessary to complete performance of
all work under the items; a list of all residual inventory and an
estimate of its value; and any other relevant data that the Contracting
Officer may reasonably require (see 52.216-16(c) and 52.216-17(e)).
Paragraph (c) of 52.216-17 also requires submission of data for
establishing the firm fixed price or a final profit adjustment formula.
The contracting officer uses the information provided by the
contractor to evaluate the contractor's performance in meeting the
incentive target and to negotiate the final prices of incentive-related
items and services.
C. Annual Burden
Respondents: 2,710.
Total Annual Responses: 45,260.
Total Burden Hours: 71,192.
D. Public Comment
A 60-day notice was published in the Federal Register at 89 FR
94730, on November 29, 2024. No comments were received.
Obtaining Copies: Requesters may obtain a copy of the information
collection documents from the GSA Regulatory Secretariat Division by
calling 202-501-4755 or emailing <a href="/cdn-cgi/l/email-protection#51160210033436023432113622307f363e27"><span class="__cf_email__" data-cfemail="f4b3a7b5a69193a79197b4938795da939b82">[email protected]</span></a>. Please cite OMB
Control No. 9000-0067, Certain Federal Acquisition Regulation Part 16
Contract Pricing Requirements.
Janet Fry,
Director, Federal Acquisition Policy Division, Office of Governmentwide
Acquisition Policy, Office of Acquisition Policy, Office of
Governmentwide Policy.
[FR Doc. 2025-03999 Filed 3-12-25; 8:45 am]
BILLING CODE 6820-EP-P
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