Section 19-11-237 - Cost-plus-a-percentage-of-cost and cost-plus-a-fixed-fee contractsAs used in this subchapter, unless the context otherwise requires, the cost-plus-a-percentage-of-cost and cost-plus-a-fixed-fee system may be used under the authority of the State Procurement Director when:
(1) There exists no other economically practicable price arrangement to secure the commodity;(2) A cost saving may be proved over the least expensive alternative; or(3) The pricing schedule involved is tied to an industry standard or other reliable system of cost prediction.Acts 1979, No. 482, § 39; 1983, No. 517, § 2; A.S.A. 1947, § 14-264; Acts 1995, No. 1234, § 1; 2001, No. 1237, § 29.