27 Miss. Code. R. 1-3-403
The pricing policies which are applicable to contracts of any type and any price adjustments there-under when cost or pricing data are required to be submitted are set forth herein. The provisions herein requiring submission of cost or pricing data do not apply to a contract let by competitive sealed bidding (including multi-step bidding) except as may be provided herein below. Cost or pricing data may be required in support of a proposal when:
The terms "adequate price competition," "established market prices," and "prices set by law or regulation" shall be construed in accordance with the following definitions:
When cost or pricing data are required, they shall be submitted to the Procurement Officer prior to beginning price negotiations at the time and in the manner prescribed by the Procurement Officer. When the Procurement Officer requires the offeror or contractor to submit cost or pricing data in support of any proposal, such data shall either be actually submitted or specifically identified in writing.
The offeror or contractor is required to keep such submission current until the negotiations are concluded or, if applicable, until the contract is expired.
The offeror or contractor shall certify as soon as practicable after agreement is reached on price that the cost or pricing data submitted is accurate, complete, and current as of a mutually determined date prior to reaching agreement. Certification shall be made using the certificate set forth in Section 3-403.05 below.
A refusal by the offeror to supply the required data shall be referred to the Agency Head, whose duty shall be to determine in writing whether to disqualify the noncomplying offeror, to defer award pending further investigation, or to enter into the contract. A refusal by a contractor to submit the required data to support a price adjustment shall be referred to the Agency Head who shall determine in writing whether to further investigate the price adjustment, to disallow any price adjustment, or to set the amount of the price adjustment.
When cost or pricing data must be certified, a certificate substantially as set forth below shall be included in the agency's contract file along with any award documentation required under these regulations. The offeror or contractor shall be required to submit the certificate as soon as practicable after agreement is reached on the contract price or adjustment.
CERTIFICATE OF CURRENT COST OR PRICING DATA
This is to certify that, to the best of my knowledge and belief, cost or pricing data as defined in Section 3-101.01 of the Mississippi Personal Service Contract Review Board Rules and Regulations submitted either actually or by specific identification in writing (see Section 3-403.04) to the Procurement Officer in support of ......*, is accurate, complete, and current as of (date) (month) (year) **......
This certification includes the cost or pricing data supporting any advance agreement(s) between the offeror and the State of Mississippi which are part of the proposal
Firm
Name
Title
Date of Execution***
--- (End of Certificate) ---
* Describe the proposal, quotation, request for price adjustment or other submission involved, giving appropriate identifying number (e.g., RFP No. _____).
** The effective date shall be a mutually determined date prior to but as close to the date when price negotiations were concluded and the contract price was agreed to as possible. The responsibility of the offeror or contractor is not limited by the personal knowledge of the offeror's or contractor's negotiator if the offeror or contractor had information reasonably available at the time of agreement, showing that the negotiated price is not based on accurate, complete, and current data.
***This date should be as soon after the date when the price negotiations were concluded and the contract price was agreed to as practical.
Although the certificate pertains to cost or pricing data, it is not to be construed as a representation as to the accuracy of the offeror's or contractor's judgment on the estimated portion of future costs or projections. It does constitute a representation as to the accuracy of the data upon which the offeror's or contractor's judgment is based. A Certificate of Current Cost or Pricing Data shall not substitute for examination and analysis of the offeror's or contractor's proposal.
Whenever it is anticipated that a Certificate of Current Cost or Pricing Data may be required, notice of this requirement shall be included in the solicitation. If such a certificate is required, the contract shall include a clause giving the State a contract right to a reduction in the price as provided in Section 3-403.06 (Defective Cost or Pricing Data).
The exercise of an option at the price established in the initial negotiation in which certified cost or pricing data was used does not require recertification or further submission of data.
If certified cost or pricing data is subsequently found to have been inaccurate, incomplete, or noncurrent as of the date stated in the certificate, the State is entitled to an adjustment of the contract price, including profit or fee, to exclude any significant sum by which the price was increased because of the defective data.
Judgmental errors made in good faith concerning the estimated portions of future costs or projections do not constitute defective data. It is presumed that overstated costs or pricing data increased the contract price in the amount of the defect plus related overhead and profit or fee, therefore, unless there is a clear indication that the defective data was not used or relied upon, the price should be reduced in such amount. In establishing that the defective data caused an increase in the contract price, the Procurement Officer is not expected to reconstruct the negotiation by speculating as to what would have been the mental attitudes of the negotiating parties if the correct data had been submitted at the time of agreement on price.
In determining the amount of a downward adjustment, the contractor shall be entitled to an offsetting adjustment for any understated cost or pricing data submitted in support of price negotiations for the same pricing action up to the amount of the State's claim for overstated cost or pricing data arising out of the same pricing action.
If the contractor and the Procurement Officer cannot agree as to the existence of defective cost or pricing data or amount of adjustment due to defective cost or pricing data, the Procurement Officer shall set an amount in accordance with Subsections 3-403.06.1 and 3-403.06.2.
Price analysis is used to determine if a price is reasonable and acceptable. It involves an evaluation of the prices for the same or similar items or services. Examples of price analysis criteria include but are not limited to:
In making such analysis, consideration must be given to any differing terms and conditions.
Cost analysis includes the appropriate verification of cost or pricing data, and the use of this data to evaluate:
Evaluations of cost or pricing data should include comparisons of costs and prices of an offeror's cost estimates with those of other offerors and any independent Mississippi price and cost estimates. They shall also include consideration of whether such costs are reasonable and allowable.
27 Miss. Code. R. 1-3-403