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FAR 15.406-2 says when you buy things, you have to check the price data to make sure it's fair. This helps the government get good deals and save money.
FAR 15.406-2 is about putting price details in writing. It says that both the government and the contractor must write down the final price and how they got there. This helps keep things clear and fair. It’s like writing a receipt after making a deal so everyone remembers what was agreed. This is important in government contracts to stay honest and follow the rules.
FAR 15.406-2 talks about documenting price talks between contractors and the government. It means if you and the government discuss changing prices, those talks must be written down. This keeps things clear and fair. It's like writing notes when you make a deal, so everyone remembers what was said and agreed. This rule helps avoid confusion and shows how prices were set in a contract.
Many people misunderstand FAR 15.406-2 by skipping the required documentation of price negotiations. One common mistake is not clearly explaining how the final price was reached. Another is failing to include a signed record of negotiation in the file. These errors can cause audit problems and delay contract awards. It’s important to keep full, clear notes on how you talked about and agreed on price. Doing this right helps show fair pricing and keeps your deal on track.
<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>