[Federal Register Volume 90, Number 48 (Thursday, March 13, 2025)] [Notices] [Pages 11969-11970] From the Federal Register Online via the Government Publishing Office [www.gpo.gov] [FR Doc No: 2025-03999] ======================================================================= ----------------------------------------------------------------------- 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. ----------------------------------------------------------------------- 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 www.reginfo.gov/public/do/PRAMain. Find this particular information collection by selecting ``Currently under Review--Open for Public Comments'' or by using the search function. FOR FURTHER INFORMATION CONTACT: [email protected], 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: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. 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. 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. 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 [email protected]. 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