The Department of Defense (DOD), General Services Administration (GSA), and National Aeronautics and Space Administration (NASA) have issued a notice regarding the extension of certain information collection requirements under the Federal Acquisition Regulation (FAR) Part 16, which deals with contract pricing. These requirements mandate that contractors submit various pricing and cost data so that contracting officers can negotiate fair pricing adjustments. The public is invited to comment on this extension until April 14, 2025. This notice aims to ensure transparent and equitable pricing in government contracts.
Simple Explanation
The rules for buying things for the government are getting checked to make sure everyone is paying a fair price. They are asking people to say what they think about these rules until April 14, 2025.