Chapter 4 - § 4.11 • COST OR PRICING DATA

• Jurisdiction: Colorado

§ 4.11 • COST OR PRICING DATA

Contractors must submit cost or pricing data¹⁶³ under the following circumstances: (1) the total contract value is expected to exceed $150,000; or (2) any contract modification is expected to exceed 10 percent of the total contract value.¹⁶⁴ The procurement official or his or her designee may request cost data or pricing data to be provided within a reasonable time and in a reasonable manner.¹⁶⁵ Cost or price data does not need to be submitted if the contract price is based upon adequate price competition, established catalog prices, law or rule, or the requirements are waived.¹⁶⁶

In the event of defective pricing, the state is entitled to an adjustment in the contract price, including profit or fee.¹⁶⁷ Defective data does not include judgmental errors made in good faith concerning the estimated portions of future costs or projections.¹⁶⁸

Any contractor or subcontractor under a negotiated contract or subcontract must maintain the books and records relating to the performance of a state contract or subcontract for six years after the date of final payment under the contract or subcontract.¹⁶⁹ Additionally, the state may audit the books and records of such contractors and subcontractors to the extent that the books and records relate to the performance of a state contract or subcontract.¹⁷⁰

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Notes:

^[163] "Cost data" is "factual information concerning the cost of labor, material, overhead, and other cost elements which are expected to be incurred or which have been actually incurred by the contractor in performing the contract." 1 C.C.R. 101-9, R-24-103-403-01(a). "Price data" is "factual information concerning prices for supplies, services, or construction substantially identical to those being procured." 1 C.C.R. 101-9, R-24-103-403-01(b).

^[164] C.R.S. § 24-103-403; 1 C.C.R. 101-9, R-24-103-403-02.

^[165] 1 C.C.R. 101-9, R-24-103-403-02(d).

^[166] 1 C.C.R. 101-9, R-24-103-403-03(a).

^[167] Id.

^[168] 1 C.C.R. 101-9, R-24-103-403-03(b).

^[169] C.R.S. § 24-106-106. Contractors and subcontractors may hold such books and records for less than six years if authorized in writing. Id.

^[170] Id.