Newly updated in 2023! Proposals, Negotiations, Audits: a walkthrough and review of the requirements, process, negotiations, audits in the development and use of Forward Pricing Rate Proposals, Forward Pricing Rate Agreements (FPRAs), and Forward Pricing Rate Recommendations (FPRRs) in government contracting. In addition, we will also cover an analysis of best practices and the latest developments in Forward Pricing Rates. An FPRA is a written agreement between the Government and a contractor which sets the rates used for bid and proposal purposes for a period of time in the future. The Government will enter into an agreement with a contractor who has a significant volume of pricing activities with the Government as it can be an efficient way to establish rates as baselines for pricing all contracts, modifications, and other contractual actions that will be performed during the period covered by the agreement. With an FPRA in place, the contractor and the Government save the time required to develop, review and approve new estimates for bidding on new work during the agreement period. Both the Government and the contractor have the responsibility to determine if any conditions change that affect the validity of the agreement, rates, and estimates. Contractors should note that all FPRAs submissions must be prepared and supported with cost or pricing data that are accurate, current, and complete. In addition, FPRAs must include the specific terms and conditions covering the expiration, application, and data requirements for the systematic monitoring of rates to ensure their continued validity. In any price proposal, contractors must specifically describe the FPRAs, if any, to which the rates apply. Contractors must also identify the latest cost or pricing data already submitted in accordance with the agreement. The purpose of this workshop is to:
