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FAR 15.405 explains how the government checks that prices are fair when buying things. It helps make sure the government doesn't pay too much.
FAR 15.405 is about what happens when the government thinks your price is too high. It says both sides—the buyer and seller—should talk and try to agree on a fair price. If needed, the government can ask for more proof or details. This helps make sure taxpayer money is spent wisely and that both sides understand each other.
FAR 15.405 is about what happens when the government and a contractor don’t agree on a fair price. It says both sides should talk it out and try to find common ground. If they still can’t agree, the government can decide not to move forward with the deal. This helps make sure taxpayer money is spent wisely on government contracts.
Many people misunderstand FAR 15.405 by skipping fair price discussions or avoiding tough talks with vendors. A common mistake is agreeing too quickly without enough facts to back up prices. Another issue is failing to document how both sides reached a fair and reasonable price. These errors can lead to overpaying or audit problems later. Always support prices with clear data and keep good records of the talks. This helps ensure a fair deal and keeps your contract strong.
<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">FAR 15.404 – Profit</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><br>
<a href="https://learn.cradle2contract.com/made-simple/far-15-408-technical-evaluation">FAR 15.408 – Technical Evaluation</a><br>