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Notice

Federal Acquisition Regulation; Information Collection; Price Redetermination

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ACTION:

Notice of request for public comments regarding an extension of an existing OMB clearance.

SUMMARY:

Under the provisions of the Paperwork Reduction Act, the Regulatory Secretariat will be submitting to the Office of Management and Budget (OMB) a request to review and approve an extension of a previously approved information collection requirement concerning Price Redetermination.

Public comments are particularly invited on: Whether this collection of information is necessary; whether it will have practical utility; whether our estimate of the public burden of this collection of information is accurate, and based on valid assumptions and methodology; ways to enhance the quality, utility, and clarity of the information to be collected; and ways in which we can minimize the burden of the collection of information on those who are to respond, through the use of appropriate technological collection techniques or other forms of information technology.

DATES:

Submit comments on or before October 26, 2012.

ADDRESSES:

Submit comments identified by Information Collection 9000-0071, Price Redetermination, by any of the following methods:

  • Regulations.gov: http://www.regulations.gov. Submit comments via the Federal eRulemaking portal by searching the OMB control number. Select the link “Submit a Comment” that corresponds with “Information Collection 9000-0071, Price Redetermination”. Follow the instructions provided at the “Submit a Comment” screen. Please include your name, company name (if any), and “Information Collection 9000-0071, Price Redetermination” on your attached document.
  • Fax: 202-501-4067.
  • Mail: General Services Administration, Regulatory Secretariat (MVCB), 1275 First Street NE., Washington, DC 20417. ATTN: Hada Flowers/IC 9000-0071, Price Redetermination.

Instructions: Please submit comments only and cite Information Collection 9000-0071, Price Redetermination, in all correspondence related to this collection. All comments received will be posted without change to http://www.regulations.gov, including any personal and/or business confidential information provided.

FOR FURTHER INFORMATION CONTACT:

Mr. Curtis E. Glover, Sr., Procurement Analyst, Office of Governmentwide Acquisition Policy, GSA, (202) 501-1448 or email Curtis.glover@gsa.gov.

SUPPLEMENTARY INFORMATION:

A. Purpose

FAR 16.205, Fixed-price contracts with prospective price redetermination, provides for firm fixed prices for an initial period of the contract with prospective redetermination at stated times during performance. FAR 16.206, Fixed price contracts with retroactive price redetermination, provides for a fixed ceiling price and retroactive price redetermination within the ceiling after completion of the contract. In order for the amounts of price adjustments to be determined, the firms performing under these contracts must provide information to the Government regarding their expenditures and anticipated costs. The information is used to establish fair price adjustments to Federal contracts.

B. Annual Reporting Burden

The estimated total burden is lower than that published the Federal Register at 74 FR 62783, on December 1, 2009. This is due to the decrease in the estimated number of respondents. Based on Fiscal Year 2011 information from the Federal Procurement Data System, an estimated 230 unique contractors were awarded 1,970 fixed-price redetermination contracts. Thus, each vendor responded on average 8.6 times a year (rounded up to 9). The hours per response is increased to 2 hours after a reassessment of the time required to prepare and report the information.

Respondents: 230.

Responses per Respondent: 9.

Annual Responses: 2,070.

Hours per Response: 2.

Total Burden Hours: 4,140.

Obtaining Copies of Proposals: Requesters may obtain a copy of the information collection documents from the General Services Administration, Regulatory Secretariat (MVCB), 1275 First Street NE., Washington, DC 20417, telephone (202) 501-4755. Please cite OMB Control No. 9000-0071, Price Redetermination, in all correspondence.

Dated: August 17, 2012.

William Clark,

Acting Director, Federal Acquisition Policy Division, Office of Governmentwide Acquisition Policy, Office of Acquisition Policy, Office of Governmentwide Policy.

[FR Doc. 2012-20992 Filed 8-24-12; 8:45 am]

BILLING CODE 6820-EP-P