Common use of FAIR AND REASONABLE PRICING Clause in Contracts

FAIR AND REASONABLE PRICING. Whereas any order awarded under the PROS V Program is required to comply with US Federal Regulations, all submitted bids shall be subject to FAR 13.106-3. Furthermore, all Seller’s shall accept and agree without reservation, when requested, to provide BUYER additional supporting documentation in order to further evaluate and make a determination. As such, quotes/proposals and supporting documents will be reviewed to determine if prices are fair and reasonable, which shall be made prior to a decision to award. If justification cannot be determined by BUYER, pricing may be determined to be NOT fair and reasonable and Seller’s quote/proposal shall not be considered for award.

FAIR AND REASONABLE PRICING. Whereas any order awarded under the PROS V Program is required to comply be in compliance with US Federal Regulations, all submitted bids shall be subject to FAR 13.106-3. Furthermore, all Seller’s SELLERs shall accept and agree without reservation, when requested, to provide BUYER PROS V BUYER’s additional supporting documentation in order to further evaluate and make a determination. As such, quotes/proposals and supporting documents will be reviewed to determine if prices are fair and reasonable, which shall be made prior to a decision to award. If justification cannot be determined by BUYERdetermined, pricing may be determined to be NOT fair and reasonable and SellerSELLER’s quote/proposal shall not be considered for award.