Evaluating Price Realism is the Exception, Not the Rule, in Firm Fixed Price Procurements

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Price evaluations in federal contracts can be a tricky subject. It is easy to confuse the concepts of price reasonableness with price realism. In a fixed price procurement, an agency is only required to evaluate offers for reasonablenesswhether the price is too high, and not for realismwhether the price is too low. The agency has broad discretion in its evaluation of proposals, and is considered to be in the best position to choose evaluation criteria that will allow it to best meet its needs. This is true as long as the agency’s evaluation …read more

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