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Steveatus

VECP Cost Requirements

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Does a VECP require submittal of certified cost or pricing data or can a contractor submit information sufficient for meaningful evaluation with certified cost or pricing data submitted AFTER the Government "accepts" the VECP and decides to negotiate the savings?

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If the VECP includes a proposed contract price adjustment, not just a savings estimate, and if the criteria in FAR 15.403-4 for submission are met, then the answer is yes. In order to save time and money the CO could (and should) let you hold off on submitting cost or pricing data until the Government has made at least a tentative decision to accept the VECP and the contractor proposes a specific adjustment.

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