I'm trying to show where price analysis are required for the cumulative value of a contract vs the value of the contract action. I have always been taught that a price analysis needs to be completed for anything over $3500 for the cumulative value of the contract. However, I'm having a hard time finding that information in the FAR.
For example my original award is $3,000
I purchase additional quantity for $1,000
Is a price analysis needed because the procurement is $4,000. If so where does FAR state that.
Thank you in advance!