§103D-312  Cost or pricing data.  (a)  Acontractor, except as provided in subsection (c), shall submit cost or pricingdata and shall certify that, to the best of the contractor's knowledge andbelief, the cost or pricing data submitted is accurate, complete, and currentas of a mutually determined specified date prior to the date of:

(1)  The pricing of any contract awarded bycompetitive sealed proposals or pursuant to the sole source procurementauthority, where the total contract amount is expected to exceed an amountestablished by rules adopted by the policy board; or

(2) The pricing of any change order or contractmodification that is expected to exceed an amount established by rules adoptedby the policy board.

(b)  Any contract, change order, or contractmodification under which a certificate is required shall contain a provisionthat the price to the State, including profit or fee, shall be adjusted toexclude any significant sums by which the State finds that the price wasincreased because the contractor furnished cost or pricing data that wasinaccurate, incomplete, or not current as of the date agreed upon between theparties.

(c)  The requirements of this section shall notapply to contracts:

(1)  Where the contract price is based on adequateprice competition;

(2)  Where the contract price is based on establishedcatalog prices or market prices;

(3)  Where the contract prices are set by law or rule;or

(4)  Where it is determined in writing in accordancewith rules adopted by the policy board that the requirements of this sectionmay be waived, and the reasons for the waiver are stated in writing. [L Sp1993, c 8, pt of §2; am L 1997, c 352, §23]