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FAR 15.406-1 shares how to get fair prices by talking honestly with sellers. It helps the government buy things for good value.
FAR 15.406-1 explains how the government and contractors agree on the final price in a proposal. It says both sides must talk openly, write down the details, and sign a record called a price negotiation memo. This helps make sure the deal is fair, honest, and follows the rules. It also protects both parties if questions come up later.
FAR 15.406-1 explains how the government and contractors talk about pricing before signing a deal. This is called price negotiation. It helps both sides agree on a fair price for the work. The rule says the final price and details must be written down in a document called a price negotiation memo. This keeps everything clear and fair for future checks.
When working with FAR 15.406-1, many people forget to document price negotiations correctly. Another common mistake is skipping the contractor signature on the price agreement, which can cause legal issues later. Some also don’t include key details discussed during talks, making it hard to show a fair deal was reached. These errors can slow down awards or lead to disputes. Always double-check your forms and keep full records of every negotiation step to stay compliant and avoid delays.
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<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-15-407-special-cost-considerations">FAR 15.407 – Special Cost Considerations</a><br>
<a href="https://learn.cradle2contract.com/made-simple/far-15-408-preaward-survey">FAR 15.408 – Preaward Survey</a><br>