GSA 552.215-72 Price Adjustment—Failure to Provide Accurate Information. Basic (Aug 1997)

As prescribed in 515.408(d), when the contract contains the basic clause 552.238-74 Industrial Funding Fee and Sales Reporting, insert the clause at 552.215-72, Price Adjustment-Failure to Provide Accurate Information, in solicitations and contracts under the MAS program.

Price Adjustment—Failure to Provide Accurate Information (Aug 1997)

(a) The Government, at its election, may reduce the price of this contract or contract modification if the Contracting Officer determines after award of this contract or contract modification that the price negotiated was increased by a significant amount because the Contractor failed to:

(1) Provide information required by this solicitation/contract or otherwise requested by the Government; or

(2) Submit information that was current, accurate, and complete; or

(3) Disclose changes in the Contractor’s commercial pricelist(s), discounts or discounting policies which occurred after the original submission and prior to the completion of negotiations.

(b) The Government will consider information submitted to be current, accurate and complete if the data is current, accurate and complete as of 14 calendar days prior to the date it is submitted.

(c) If any reduction in the contract price under this clause reduces the price for items for which payment was made prior to the date of the modification reflecting the price reduction, the Contractor shall be liable to and shall pay the United States—

(1) The amount of the overpayment; and

(2) Simple interest on the amount of such overpayment to be computed from the date(s) of overpayment to the Contractor to the date the Government is repaid by the Contractor at the applicable underpayment rate effective each quarter prescribed by the Secretary of Treasury under 26 U.S.C. 6621(a)(2).

(d) Failure to agree on the amount of the decrease shall be resolved as a dispute.

(e) In addition to the remedy in paragraph (a) of this clause, the Government may terminate this contract for default. The rights and remedies of the Government specified herein are not exclusive, and are in addition to any other rights and remedies provided by law or under this contract.

(End of clause)

NONE

Prime’s Interest;
⚠ =552.238-74 Basic

52.203-11 Certification and Disclosure Regarding Payments to Influence Certain Federal Transactions.

52.203-12 Limitation on Payments to Influence Certain Federal Transactions.

52.203-8 Cancellation, Rescission, and Recovery of Funds for Illegal or Improper Activity.

52.209-10 Prohibition on Contracting with Inverted Domestic Corporations.

52.209-7 Information Regarding Responsibility Matters.

52.214-27 Price Reduction for Defective Certified Cost or Pricing Data—Modifications—Sealed Bidding.

52.214-4 False Statements in Bids.

52.215-10 Price Reduction for Defective Certified Cost or Pricing Data.

52.215-11 Price Reduction for Defective Certified Cost or Pricing Data—Modifications.

52.222-15 Certification of Eligibility.

52.222-41 Service Contract Labor Standards.

52.242-3 Penalties for Unallowable Costs.

52.209-13 Violation of Arms Control Treaties or Agreements-Certification.

252.203-7001 Prohibition on Persons Convicted of Fraud or Other Defense Contract-Related Felonies.

252.215-7002 Cost Estimating System Requirements.

252.216-7004 Award Fee Reduction or Denial for Jeopardizing the Health or Safety of Government Personnel.

1852.247-71 Protection of the Florida Manatee.

3052.209-74 Limitations on Contractors Acting as Lead System Integrators

3052.209-75 Prohibited Financial Interests for Lead System Integrators

5352.242-9001 Common Access Cards (CAC) for Contractor Personnel

552.211-73 Marking.

552.223-71 Nonconforming Hazardous Materials.

552.238-73 Cancellation.

552.238-74 Industrial Funding Fee and Sales Reporting.

552.246-77 Additional Contract Warranty Provisions for Supplies of a Noncomplex Nature.

652.236-72 Statement of Qualifications for the Omnibus Diplomatic Security and Antiterrorism Act .

652.237-73 Statement of Qualifications for Preference as a U.S. Person.

952.204-76 Conditional payment of fee or profit—safeguarding restricted data and other classified information.

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