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FAR 15.403-7 is the rule that explains how to check if the prices for a government contract are fair and reasonable. It helps ensure the government pays the right amount.
FAR 15.403-7 explains when and how the government should use an audit to check if your contract prices are fair. It helps buyers decide if they need extra review before agreeing to a deal. If the price is big or hard to understand, they might ask for an audit to double-check your numbers. This keeps everything honest and clear.
FAR 15.403-7 explains how the government reviews your pricing data using something called cost or price analysis. This helps make sure the price is fair before a contract is signed. It's like double-checking a bill to be sure you're paying the right amount. This rule helps keep government spending honest and protects taxpayers. Keywords: FAR 15.403-7, price analysis, cost analysis, government contracts, fair pricing, acquisition rules.
A common mistake with FAR 15.403-7 is not documenting when certified cost or pricing data is required. Some skip the written justification, or forget to explain exceptions properly. Others assume prices are fair without doing a full review. These slip-ups can delay awards or cause audit problems later. To stay compliant, always check if certified data is needed and clearly show why it is—or isn’t—required. Clear records help avoid risk and keep the process smooth.
<a href="https://learn.cradle2contract.com/made-simple/far-15-400-general-rules">FAR 15.400 – General Rules</a><br>
<a href="https://learn.cradle2contract.com/made-simple/far-15-401-definitions">FAR 15.401 – Definitions</a><br>
<a href="https://learn.cradle2contract.com/made-simple/far-15-402-pricing-policy">FAR 15.402 – Pricing Policy</a><br>
<a href="https://learn.cradle2contract.com/made-simple/far-15-404-proposal-analysis-techniques">FAR 15.404 – Proposal Analysis Techniques</a><br>
<a href="https://learn.cradle2contract.com/made-simple/far-15-405-price-negotiation">FAR 15.405 – Price Negotiation</a><br>