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    This approach compares offered prices against each other to determine which are most reasonable, as companies do this in response to solicitations and adequate price competition usually establishes a fair price. It can also compare to prior prices paid when there is a history of contracting for the same products, accounting for the base price, time since last purchase, and quantities sold, to see if the prior price provides a valid basis for comparison after adjusting for differing terms and conditions.

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    This approach compares offered prices against each other to determine which are most reasonable, as companies do this in response to solicitations and adequate price competition usually establishes a fair price. It can also compare to prior prices paid when there is a history of contracting for the same products, accounting for the base price, time since last purchase, and quantities sold, to see if the prior price provides a valid basis for comparison after adjusting for differing terms and conditions.

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    7 views1 page

    TH

    Uploaded by

    omondi
    This approach compares offered prices against each other to determine which are most reasonable, as companies do this in response to solicitations and adequate price competition usually establishes a fair price. It can also compare to prior prices paid when there is a history of contracting for the same products, accounting for the base price, time since last purchase, and quantities sold, to see if the prior price provides a valid basis for comparison after adjusting for differing terms and conditions.

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    This approach consists of comparing offered prices against each other to decide which prices are

    most reasonable (Nwadike, 2021). The company does this in response to the solicitation.

    Usually, adequate price competition establishes a fair and reasonable price.

    ii. Comparison of prior prices paid

    The approach is useful when the company has had a history of contracting for the same products.

    In this case, factors such as the reasonableness of the base price, the time since the last purchase,

    and the relative number of quantities sold must be accounted for (Nwadike, 2021). As a result,

    the contracting officer determines if the prior price has a valid basis for comparison and is

    adjustable to account for materially differing terms and conditions.

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