Arkansas § 19-11-237 Cost-plus-a-percentage-of-cost and cost-plus-a-fixed-fee contracts

Arkansas Statutes

§ 19-11-237 — Cost-plus-a-percentage-of-cost and cost-plus-a-fixed-fee contracts

As used in this subchapter, unless the context otherwise requires, the cost-plus-a-percentage-of-cost and cost-plus-a-fixed-fee system may be used under the authority of the State Procurement Director when:

(1)There exists no other economically practicable price arrangement to secure the commodity;

(2)A cost saving may be proved over the least expensive alternative; or (3) The pricing schedule involved is tied to an industry standard or other reliable system of cost prediction.

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As used in this subchapter, unless the context otherwise requires, the cost-plus-a-percentage-of-cost and cost-plus-a-fixed-fee system may be used under the authority of the State Procurement Director when: (1) There exists no other economically practicable price arrangement to secure the commodity; (2) A cost saving may be proved over the least expensive alternative; or (3) The pricing schedule involved is tied to an industry standard or other reliable system of cost prediction.

Arkansas § 19-11-237 (Cost-plus-a-percentage-of-cost and cost-plus-a-fixed-fee contracts) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.