Price Reasonableness definition
Price Reasonableness means a price, in its nature and amount, which does not exceed that which would be incurred by a prudent person in the conduct of competitive business. What is reasonable depends upon a variety of considerations and circumstances, including the following:
Price Reasonableness means the determination that the price of the work for any project or series of projects is not excessive and is a fair and reasonable price for the services to be performed.
Examples of Price Reasonableness in a sentence
Price Reasonableness Determination) such finding will, to the extent required under federal regulations, be reviewed by FHWA for its concurrence.
Factor 5 – Cost/Price Price Reasonableness for Order PWSs The Offeror’s price quote will not be rated but will be used in determining the best value to the Government.