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Maryland Code, State Finance and Procurement § 13-220

Current as of January 01, 2025 | Updated by Findlaw Staff

(a) In this section, “established catalog price” means the price included in the most current catalog, price list, schedule, or other form that:

(1) is regularly maintained by the manufacturer or supplier of an item;

(2) is published or available for inspection by customers; and

(3) states:

(i) prices at which sales are currently or were last made to the general buying public; or

(ii) discounted prices at which sales are currently or were last made to local, State, or federal governmental units.

(b) This section applies to all procurements by units except:

(1) a procurement for which the price will be established by competitive sealed bidding; or

(2) a lease of real property or an amendment to a lease of real property.

(c) An offeror or contractor shall submit cost and price information for a procurement contract, change order, or contract modification if the price:

(1) is expected to exceed $100,000 or a smaller amount set by the procurement officer; and

(2) is not:

(i) based on adequate price competition;

(ii) based on the established catalog or market price of commercial items sold in substantial quantities to a significant number of buyers; or

(iii) set by law.

(d) An offeror or contractor required to submit cost and price information shall certify that, to the best knowledge of the offeror or contractor, the information is:

(1) accurate;

(2) complete; and

(3) current as of a specific date that:

(i) has been determined by the procurement officer and the offeror or contractor; and

(ii) occurs before the conclusion of price discussions.

(e) Each procurement contract, change order, or contract modification for which a cost and price certificate is required shall contain a provision that the price, including profit or fee, shall be reduced to exclude any significant price increases in a component that result because the contractor provided cost or price information that, as of the date specified under subsection (d)(3) of this section, was inaccurate, incomplete, or not current.

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Cite this article: FindLaw.com - Maryland Code, State Finance and Procurement § 13-220 - last updated January 01, 2025 | https://codes.findlaw.com/md/state-finance-and-procurement/md-code-state-fin-and-proc-sect-13-220/

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