New Mexico § 13-1-143 Cost or pricing data; price adjustment provision required

New Mexico Statutes

§ 13-1-143 — Cost or pricing data; price adjustment provision required

New Mexico·Ch. 13 Public Purchases and Property·Art. 1 Procurement

Any contract award, change order or contract modification under which the submission and certification of cost or pricing data are required shall contain a provision stating that the price to the state agency or a local public body, including profit or fee, shall be adjusted to exclude any significant sums by which the state agency or a local public body reasonably finds that such price was increased because the contractor- furnished cost or pricing data was inaccurate, incomplete or not current as of the date specified.

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Any contract award, change order or contract modification under which the submission and certification of cost or pricing data are required shall contain a provision stating that the price to the state agency or a local public body, including profit or fee, shall be adjusted to exclude any significant sums by which the state agency or a local public body reasonably finds that such price was increased because the contractor- furnished cost or pricing data was inaccurate, incomplete or not current as of the date specified.

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