Overview
This section permits contracting personnel to use pre-existing, recurring price lists for acquisitions instead of soliciting new quotations for every individual transaction, provided certain efficiency and value conditions are met.
Key Rules
- Waiver of Individual Quotes: Authorized individuals are not required to solicit separate quotations for every purchase if a standing price quotation is available.
- Currency Requirement: The pricing information used must be up-to-date and valid at the time of the purchase.
- Discount Maximization: The Government must ensure it receives the full benefit of any maximum available discounts before the award is finalized.
Practical Implications
- Streamlines the procurement process for repetitive, small-dollar requirements by reducing administrative lead time and paperwork.
- Places the onus on the buyer to verify that the standing price remains competitive and reflects current market discounts before placing an order.