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Price Justification is the process when buyers demand price justification from bidders. PJ is common practice used by PSU Companies and govt departments. In some cases buyer can demand price justification.
What is the JA process?
Justification and Approval (JA) is a formal document required to justify a contracting officers decision to award a contract without full and open competition. It outlines the reasons and circumstances that necessitate this exception to the standard competitive bidding process.
What is the price reasonableness justification?
A determination that a price is fair and reasonable is really a conclusion that the proposed price is fair to both parties, considering the quality, delivery, and other factors. The basis for reaching the conclusion is found in the facts and information considered and analyzed by the buyer.
What is the statement of price reasonableness?
A determination that a price is fair and reasonable is really a conclusion that the proposed price is fair to both parties, considering the quality, delivery and other factors. The basis for reaching the conclusion is found in the facts and information considered and analyzed by the purchasing agent.
What is the definition of cost reasonableness?
(a) A cost is reasonable if, in its nature and amount, it does not exceed that which would be incurred by a prudent person in the conduct of competitive business.
Related Searches
FAR competition requirementsFair and reasonable price determination templateAdequate price competition FARCompetition in Contracting ActFull and open competition FARCost and price analysis in Government contractsFAR price reasonablenessFAR sole source requirements
If an independent estimate of the item has been prepared prior to contacting suppliers, and no other method or information is available, a price can be compared to the estimate and if it compares favorably, this can be a basis to find a price fair and reasonable.
What does the competition in the contracting act require?
The Competition in Contracting Act (CICA) of 1984 requires that all acquisitions be made using full and open competition. Seven exceptions to using full and open competition are specifically identified in Federal Acquisition Regulation (FAR) Subpart 6.3.
Do I need a JA for brand name or equal?
The CICA exemption for only one responsible source, FAR 6.302-1, 10 USCA 2304(c)(1), or 41 USCA 3304(a)(1), distinguishes between (1) the acquisition of a brand name product, which does not provide for full and open competition, and, thus, requires a justification and approval (JA), pursuant to FAR 6.303 and
Related links
1232.1.1f - Customer Request for a Brand/Vendor-Specific
Oct 14, 2021 1. Where performance or price competition is not available. 2. Where a needed product or service is available from only one source of supply.
This part prescribes policies and procedures to promote full and open competition in the acquisition process and to provide for full and open competition.
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