Section 3-122-124 - Exceptions to the requirement for cost or pricing data(a) Cost or pricing data need not be submitted or certified where the contract price is based on: (1) Adequate price competition which means at least two responsible offerors independently compete for a contract to be awarded to the offeror submitting the lowest evaluated price.(2) Established catalogue price which means the price included in a catalogue, price list, schedule, or other form that is regularly maintained by a manufacturer or contractor; is either published or otherwise available for inspection by customers; and states the price at which sales are currently or were last made to a significant number of any category of buyers or buyers constituting the general (non-government) buying public for the goods or services involved.(3) Established market price which means a current price, established in the usual and ordinary course of trade between buyers and sellers, which can be substantiated from sources independent of the manufacturer or supplier and may be an indication of the reasonableness of price.(4) Prices set by law or regulation which means the price of a good or service is set by law or rule if some governmental body establishes the price that the contractor may charge the State and other customers.(b) If, despite the existence of an established catalogue price or market price, and after consultation with the prospective contractors, the procurement officer considers that the price is not reasonable, cost or pricing data may be requested. Where the reasonableness of the price can be assured by a request for cost or pricing data limited to data pertaining to the differences in the item or services being procured and those listed in the catalogue or market, requests should be so limited.(c) When the chief procurement officer or the head of a purchasing agency determines in writing to waive the applicable requirements of section 3-122-123(1) or 3-122-123(2) for submission of cost or pricing data in a particular pricing action and the reasons for the waiver are stated in the determination, a copy of the determination shall be kept In the contract file and made available to the public upon request.(d) If after cost or pricing data were initially requested and received, it is determined that adequate price competition does exist, the data need not be certified.[Eff 12/15/95; am and comp 11/17/97; am and comp MAR 21 2008] (Auth: HRS §§ 103D-202, 103D-312) (Imp: HRS § 103D-312)