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Complete and attach this form to Federally Funded Purchase Requests of $25,000 or more. It includes sections for competitive and non-competitive selection justifications, cost and price analysis,
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How to fill out source selection price justification

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How to fill out source selection price justification

01
Identify the requirement for the procurement and gather relevant documentation.
02
Determine the competitive range of proposals or offers received.
03
Analyze the pricing structure of the proposals against market research data.
04
Justify the selected price by comparing it to similar products or services in the market.
05
Document the rationale for the pricing decision, including factors such as cost, quality, and delivery.
06
Include any relevant notes on negotiations conducted during the selection process.
07
Review and finalize the justification document for inclusion in the procurement file.

Who needs source selection price justification?

01
Government contracting officers
02
Procurement specialists
03
Project managers overseeing acquisitions
04
Auditors reviewing procurement processes

What is Source Selection & Price Justification Form?

The Source Selection & Price Justification is a Word document that can be completed and signed for specified purpose. Then, it is furnished to the actual addressee in order to provide some details and data. The completion and signing is available manually or using an appropriate service like PDFfiller. These services help to fill out any PDF or Word file online. It also allows you to customize its appearance depending on the needs you have and put a legal electronic signature. Once finished, the user sends the Source Selection & Price Justification to the recipient or several recipients by mail and even fax. PDFfiller is known for a feature and options that make your Word form printable. It includes different settings when printing out. It doesn't matter how you send a form - physically or electronically - it will always look well-designed and clear. In order not to create a new file from the beginning every time, turn the original document into a template. Later, you will have an editable sample.

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Source selection price justification is a document that explains and validates the pricing of proposals in a procurement process, ensuring that the selected offer is fair and reasonable.
Typically, the contracting officer or the procurement team is responsible for filing source selection price justification as part of the acquisition process.
To fill out source selection price justification, one should provide details such as the basis for price comparison, market research findings, and any relevant pricing data or considerations that support the selected price.
The purpose of source selection price justification is to document the rationale for selecting a particular bid based on its price, ensuring transparency and compliance with procurement regulations.
The information that must be reported includes the proposed prices, the rationale for the selected price, comparisons with previous contracts or market rates, and any supporting documents used in the analysis.
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