Defense Industry Pricing Transparency Act requires reporting of price increases for certain defense contracts.
The Defense Industry Pricing Transparency Act mandates that offerors report to relevant contracting officers when the price of a product or service under a covered contract increases by 25% or more compared to the bid price. Offerors must submit this report within 30 days of becoming aware of the price increase. The report must include details such as the national stock number, order quantity, unit cost, total cost, purchasing entity, and order date.
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