Home
Solutions
Products
Pricing
Resources
Request Demo
Start Free
Menu Search Account

LegiStorm

Get LegiStorm App Visit Product Demo Website
» Get LegiStorm App
» Get LegiStorm Pro Free Demo
StateStorm

Weekly Updates

LegiStorm is constantly adding new information on the people, places and reports in our database. In the past week, LegiStorm added:

  • 1865 new people
  • 34 new organizations
  • 622 new photos
  • 1247 job history records for people in our database
  • 518 education records for people in our database
  • 2209 contact addresses, emails and URLs (LinkedIn, Facebook, etc.)
  • 198 new policy reports
  • 12 new trips to our privately funded travel database
  • 921 new personal financial disclosures
  • 27459 new press releases
  • 30 new town halls

Caught Our Eye Rss

» More from Caught Our Eye
» More from our DevBlog

Contract Pricing: Obligations Exceed Definitized Prices on Unpriced Contracts

  Premium   Download PDF Now (10 pages)
Report Type Reports and Testimonies
Report Date May 2, 1986
Report No. NSIAD-86-128
Subject
Summary:

Pursuant to a congressional request, GAO reviewed the Department of Defense's (DOD) use of unpriced contracts to determine if contracting officers were using them properly and pricing them on time.

Unpriced contracts authorize contractors to start work and incur costs before final agreement on terms and conditions, including price. DOD establishes a ceiling price for these contracts that limits the government's liability and is usually based on the contractor's estimated cost for the work. GAO found that DOD obligated an average of 12 to 37 percent more than was needed for these contracts and was funding them at ceiling prices. These contracts provide contractors with little incentive to control costs. GAO found that many of the contracts remain unpriced much longer than the 180-day limit. GAO believes that a limit on obligations for all unpriced contracts could prevent excess obligations in the future and provide contractors with an incentive to submit proposals and negotiate contracts on time.

« Return to search Government Accountability Office reports

HomeAbout Us Contact UsPrivacy PolicyTerms of UseJoin Us
© LegiStorm
LegiStorm
2101 L St. NW, Suite 300
Washington, DC 20037
(202) 360-4172 / congress@legistorm.com