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FAR 15.402 is the rule for how the government decides fair prices when buying things. It makes sure the government gets the best deal.
FAR 15.402 talks about what info contractors must give when offering prices to the government. It helps buyers know if the price is fair and based on facts. This rule makes sure both sides are honest and can trust the numbers. Think of it like showing your math on a school test—so the teacher (the government) knows how you got your answer. This helps make smart buying decisions on government contracts.
FAR 15.402 is about how the government asks for and uses pricing info when buying something. It says what kind of cost or price data you must give to prove your offer is fair. This helps make sure tax dollars are spent wisely and fairly. Think of it like showing your homework when you ask to get paid—you need to show proof so everyone knows it’s the right price.
When working with FAR 15.402, many people forget to follow fair and open pricing rules. One common mistake is not getting enough competition before talking price. Another is sharing pricing info too early or unfairly. Some also skip checking if a vendor is being truthful about their costs. These missteps can lead to legal trouble or wasted money. Always follow the rules, treat vendors fairly, and double-check before negotiating. That’s how you get a good deal and stay in line with the FAR.
<a href="https://learn.cradle2contract.com/made-simple/far-15-403-cost-realism-analysis">FAR 15.403 – Cost Realism Analysis</a><br>
<a href="https://learn.cradle2contract.com/made-simple/far-15-404-profit-analysis">FAR 15.404 – Profit Analysis</a><br>
<a href="https://learn.cradle2contract.com/made-simple/far-15-405-price-negotiation">FAR 15.405 – Price Negotiation</a><br>
<a href="https://learn.cradle2contract.com/made-simple/far-15-406-documentation-requirements">FAR 15.406 – Documentation Requirements</a><br>
<a href="https://learn.cradle2contract.com/made-simple/far-15-407-special-cost-considerations">FAR 15.407 – Special Cost Considerations</a>