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48 CFR · Federal Acquisition Regulation and Defense supplement

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The codified text (eCFR, as of 2026-10-02). Under the Revolutionary FAR Overhaul ↗, agencies follow class deviations with new text for many parts while the formal rules go through the Federal Register: check the solicitation and your contract's clauses, which rule.

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25 sections with “fair market value”

  • FAR 31.205-6 Compensation for personal services.
    …e following additional restrictions apply: (i) Valuation placed on the securities is the fair market value on the first date the number of shares awarded is known, determined upon the most objective basis available. (ii) Accruals for the …
  • FAR 31.205-16 Gains and losses on disposition or impairment of depreciable property or other capital assets.
    … this subsection results in a loss— (i) The allowable portion of the loss is zero if the fair market value exceeds the undepreciated balance of the asset on the date the contractor becomes a lessee; and (ii) The allowable portion of the l…
  • FAR 2.101 Definitions.
    …ost data, and judgmental information necessary for the contracting officer to determine a fair and reasonable price or to determine cost realism. Such data may include the identical types of data as certified cost or pricing data, consisten…
  • FAR 8.405-3 Blanket purchase agreements (BPAs).
    …uotes from at least three schedule contractors. (C) Shall ensure all quotes received are fairly considered and award is made in accordance with the basis for selection in the RFQ. After seeking price reductions (see 8.405-4), establish the…
  • FAR 15.404-1 Proposal analysis techniques.
    …eneral. The objective of proposal analysis is to ensure that the final agreed-to price is fair and reasonable. (1) The contracting officer is responsible for evaluating the reasonableness of the offered prices. The analytical techniques an…
  • FAR 16.505 Ordering.
    …n under the Treasury Offset Program (TOP). (b) Orders under multiple-award contracts—(1) Fair opportunity. (i) The contracting officer must provide each awardee a fair opportunity to be considered for each order exceeding the micro-purchas…
  • FAR 8.404 Use of Federal Supply Schedules.
    … services, and rates for services offered at hourly rates, under schedule contracts to be fair and reasonable. Therefore, ordering activities are not required to make a separate determination of fair and reasonable pricing, except for a pri…
  • FAR 15.408 Solicitation provisions and contract clauses.
    …er fixed-price-incentive and fixed-price-redeterminable arrangements should be net of the fair market value of such inventory. In support of subcontract costs, submit a listing of all subcontracts subject to repricing action, annotated as t…
  • FAR 19.705-2 Determining the need for a subcontracting plan.
    …rmance (with consideration given to the time remaining until contract completion), and at fair market value, when a determination is made in accordance with paragraph (a)(2). (c) If it is determined that there are no subcontracting possibi…
  • FAR 37.303 Payments.
    …the contract for retention by the Government. The contracting officer shall determine the fair market value of any property not so designated, since the contractor will get title to this property, and its value will therefore be important i…
  • FAR 45.602-1 Inventory disposal schedules.
    …t the contract; (ii) The contractor is able to return unused property to the supplier at fair market value and credit the contract (less, if applicable, a reasonable restocking fee that is consistent with the supplier's customary practices…
  • FAR 52.245-1 Government Property.
    …sired or make reasonable efforts to return unused property to the appropriate supplier at fair market value (less, if applicable, a reasonable restocking fee that is consistent with the supplier's customary practices.) (2) Inventory dispos…
  • FAR 6.303-2 Content.
    …ermination by the contracting officer that the anticipated cost to the Government will be fair and reasonable. (8) A description of the market research conducted (see part 10) and the results or a statement of the reason market research wa…
  • FAR 8.602 Policy.
    …edures in subpart 19.5, or competition conducted in accordance with part 13); or (B) The fair opportunity procedures in 16.505, if placing an order under a multiple award delivery-order contract; (ii) Include FPI in the solicitation proce…
  • FAR 15.403-1 Prohibition on obtaining certified cost or pricing data (10 U.S.C. chapter 271 and 41 U.S.C. chapter 35).
    …an certified cost or pricing data as defined in FAR 2.101 to support a determination of a fair and reasonable price or cost realism)— (1) When the contracting officer determines that prices agreed upon are based on adequate price competiti…
  • FAR 16.504 Indefinite-quantity contracts.
    … more than a nominal quantity, but it should not exceed the amount that the Government is fairly certain to order. (3) The contract may also specify maximum or minimum quantities that the Government may order under each task or delivery or…
  • FAR 19.502-2 Total small business set-asides.
    …ers from two or more responsible small business concerns that are competitive in terms of fair market prices, quality, and delivery. If the contracting officer receives only one acceptable offer from a responsible small business concern in …
  • FAR 19.805-1 General.
    …ible and responsible 8(a) participants will submit offers and that award can be made at a fair market price; and (2) The anticipated total value of the contract, including options, will exceed $8.5 million for acquisitions assigned manufac…
  • FAR 52.212-3 Offeror Representations and Certifications—Commercial Products and Commercial Services.
    …Locator Subsystem, or successor system that is maintained by the Department of Veterans Affairs' Veterans Benefits Administration, as a service-disabled veteran. Service-disabled veteran-owned small business (SDVOSB) concern eligible under…
  • DFARS 245.604-1 Sales procedures.
    …d. Plant clearance officers shall— (i) Evaluate bids to establish that the sale price is fair and reasonable, taking into consideration— (A) Knowledge or tests of the market; (B) Current published prices for the property; (C) The nature…
  • FAR 8.405-1 Ordering procedures for supplies, and services not requiring a statement of work.
    … (4) The ordering activity contracting officer shall ensure that all quotes received are fairly considered and award is made in accordance with the basis for selection in the RFQ. (e) When an order contains brand-name specifications, the …
  • FAR 8.405-2 Ordering procedures for services requiring a statement of work.
    …tain quotes from at least three schedule contractors. (C) Ensure all quotes received are fairly considered and award is made in accordance with the evaluation criteria in the RFQ. (4) The ordering activity shall provide the RFQ (including…
  • FAR 10.002 Procedures.
    …eeds can be met by small business concerns that will likely submit a competitive offer at fair market prices (see part 19). (2) Techniques for conducting market research may include any or all of the following: (i) Contacting knowledgeabl…
  • FAR 12.207 Contract type.
    …the Government's expressed requirement from two or more responsible offerors; or (C) The fair opportunity procedures in 16.505 (including discretionary small business set-asides under 16.505(b)(2)(i)(F)), if placing an order under a multip…
  • DFARS 215.404-1 Proposal analysis techniques.
    …o the solicitation, pricing based on market prices is the preferred method to establish a fair and reasonable price (see PGI 215.404-1(b)(i)). (ii) If the contracting officer determines that the information obtained through market research…

FAR (chapter 1)

DFARS (chapter 2, Defense)

Source: eCFR, 48 CFR chapters 1 and 2 (GPO GovInfo bulk data) ↗. Rule changes in progress: FAR, DFARS. Terms: glossary.