Difference between revisions of "Contract Value"
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It is very important to determine contract value at time of award so that the applicable contract clauses are incorporated into the contract. For instance: | It is very important to determine contract value at time of award so that the applicable contract clauses are incorporated into the contract. For instance: | ||
Revision as of 13:30, 17 September 2013
Contract Value at Time of Award (Determining CAS applicability)
It is very important to determine contract value at time of award so that the applicable contract clauses are incorporated into the contract. For instance:
- Requirements contracts: no fixed quantity, so difficult to determine whether $7.5 million trigger or $700,000 threshold are met
- Indefinite Delivery/Indefinite Quantity (IDIQ) contracts: minimum guaranteed value may be fair measure of the value of the contract
- Options: Priced options are included in the award value of the original contract, even if there is no guarantee that the options will be exercised
