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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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145 sections with “final price”: the first 40

  • FAR 16.403-1 Fixed-price incentive (firm target) contracts.
    …er contract clauses. When the contractor completes performance, the parties negotiate the final cost, and the final price is established by applying the formula. When the final cost is less than the target cost, application of the formula r…
  • FAR 16.403-2 Fixed-price incentive (successive targets) contracts.
    …r a lesser degree of contractor cost responsibility than would a formula for establishing final profit and price.) (iv) The production point at which the firm target cost and firm target profit will be negotiated (usually before delivery o…
  • FAR 52.216-5 Price Redetermination—Prospective.
    …of the last preceding period, except that the parties may agree to vary the length of the final period. The first day of the second and each succeeding period shall be the effective date of price redetermination for that period. (d) Data s…
  • FAR 52.216-6 Price Redetermination—Retroactive.
    …ars that the then-current billing prices will be substantially greater than the estimated final prices, or if the Contractor submits data showing that the redetermined prices will be substantially greater than the current billing prices, th…
  • FAR 52.216-16 Incentive Price Revision—Firm Target.
    …price revision in accordance with this clause; provided, that in no event shall the total final price of these items exceed the ceiling price of ___ dollars ($___). Any supplies or services that are to be (1) ordered separately under, or ot…
  • FAR 52.216-17 Incentive Price Revision—Successive Targets.
    …price revision in accordance with this clause; provided, that in no event shall the total final price of these items exceed the ceiling price of ___ dollars ($___). The prices of these items shown in the Schedule are the initial target pric…
  • FAR 52.246-2 Inspection of Supplies—Fixed-Price.
    …ement, or correction shall be considered a cost incurred, or to be incurred, in the total final negotiated cost fixed under the incentive price revision clause. However, replacements or corrections by the Contractor after the establishment …
  • FAR 16.403 Fixed-price incentive contracts.
    …ontract is a fixed-price contract that provides for adjusting profit and establishing the final contract price by application of a formula based on the relationship of total final negotiated cost to total target cost. The final price is sub…
  • FAR 52.203-10 Price or Fee Adjustment for Illegal or Improper Activity.
    …sions, the Contracting Officer may defer such adjustment until establishment of the total final price of the contract. The total final price established in accordance with the incentive price revision provisions of the contract shall be red…
  • FAR 52.249-2 Termination for Convenience of the Government (Fixed-Price).
    …posals arising from the termination of subcontracts; the approval or ratification will be final for purposes of this clause. (6) As directed by the Contracting Officer, transfer title and deliver to the Government (i) the fabricated or unf…
  • FAR 42.703-1 Policy.
    (a) A single agency (see 42.705-1) shall be responsible for establishing final indirect cost rates for each business unit. These rates shall be binding on all agencies and their contracting offices, unless otherwise specifically prohibited …
  • FAR 46.707 Pricing aspects of fixed-price incentive contract warranties.
    …contractor in complying with the warranty shall be considered when establishing the total final price. Contractor compliance with the warranty after the establishment of the total final price shall be at no additional cost to the Government…
  • FAR 1.108 FAR conventions.
    … otherwise specified, a specific dollar threshold for the purpose of applicability is the final anticipated dollar value of the action, including the dollar value of all options. If the action establishes a maximum quantity of supplies or s…
  • FAR 15.405 Price negotiation.
    …eeded to reach a negotiated settlement with the offeror and is solely responsible for the final price agreement. However, when significant audit or other specialist recommendations are not adopted, the contracting officer should provide rat…
  • FAR 31.102 Fixed-price contracts.
    …greements on individual elements of cost in arriving at agreement on the total price. The final price accepted by the parties reflects agreement only on the total price. Further, notwithstanding the mandatory use of cost principles, the obj…
  • FAR 52.216-4 Economic Price Adjustment—Labor and Material.
    …eriod that the Contracting Officer may approve in writing, but not later than the date of final payment under this contract. The notice shall include the Contractor's proposal for an adjustment in the contract unit prices to be negotiated u…
  • FAR 2.101 Definitions.
    …e Federal agency that, on behalf of all Federal agencies, is responsible for establishing final indirect cost rates and forward pricing rates, if applicable, and administering cost accounting standards for all contracts in a business unit. …
  • FAR 4.804-5 Procedures for closing out contract files.
    …t procedures must ensure that— (1) Disposition of classified material is completed; (2) Final patent report is cleared. If a final patent report is required, the contracting officer may proceed with contract closeout in accordance with th…
  • FAR 15.403-4 Requiring certified cost or pricing data (10 U.S.C. chapter 271 and 41 U.S.C. chapter 35).
    …required are included for administrative convenience in the same modification. Negotiated final pricing actions (such as termination settlements and total final price agreements for fixed-price incentive and redeterminable contracts) are co…
  • FAR 15.408 Solicitation provisions and contract clauses.
    … the agreement, include a copy, and describe its nature. H. As soon as practicable after final agreement on price or an earlier date agreed to by the parties, but before the award resulting from the proposal, you must, under the conditions…
  • FAR 16.204 Fixed-price incentive contracts.
    …ontract is a fixed-price contract that provides for adjusting profit and establishing the final contract price by a formula based on the relationship of final negotiated total cost to total target cost. Fixed-price incentive contracts are c…
  • FAR 19.705-7 Compliance with the subcontracting plan.
    …onstrate what good faith efforts have been made before the contracting officer issues the final decision and shall further state that failure of the contractor to respond may be taken as an admission that no valid explanation exists. (e) P…
  • FAR 32.904 Determining payment due dates.
    …h day after Government acceptance of supplies delivered or services performed. (A) For a final invoice, when the payment amount is subject to contract settlement actions, acceptance is deemed to occur on the effective date of the contract …
  • FAR 42.302 Contract administration functions.
    …osts when there is reason to believe they should be suspended or disapproved, and approve final vouchers. (8) Issue Notices of Intent to Disallow or not Recognize Costs (see subpart 42.8). (9) Establish final indirect cost rates and billi…
  • FAR 42.1503 Procedures.
    …individuals responsible for preparing and reviewing interim evaluations, if prepared, and final evaluations (e.g., contracting officers, contracting officer representatives, project managers, and program managers). Those individuals identif…
  • FAR 50.103-4 Facts and evidence.
    …ts paid and those owed. (3) A statement and evidence of the contractor's estimate of the final price of the contracts, taking into account all known or contemplated escalation, changes, extras, and the like. (4) A statement of any claims …
  • FAR 52.212-3 Offeror Representations and Certifications—Commercial Products and Commercial Services.
    … considered delinquent if both of the following criteria apply: (A) The tax liability is finally determined. The liability is finally determined if it has been assessed. A liability is not finally determined if there is a pending administr…
  • FAR 52.212-4 Contract Terms and Conditions—Commercial Products and Commercial Services.
    …rence. The Contractor shall proceed diligently with performance of this contract, pending final resolution of any dispute arising under the contract. (e) Definitions. The clause at FAR 52.202-1, Definitions, is incorporated herein by refer…
  • FAR 52.215-2 Audit and Records—Negotiation.
    …(d), and (e) of this clause, for examination, audit, or reproduction, until 3 years after final payment under this contract or for any shorter period specified in Subpart 4.7, Contractor Records Retention, of the Federal Acquisition Regulat…
  • FAR 52.230-6 Administration of Cost Accounting Standards.
    …part 16.4); (3) Orders issued under indefinite-delivery contracts and subcontracts where final payment is not based on actual costs incurred (FAR Subpart 16.5); and (4) The fixed-hourly rate portion of time-and-materials and labor-hours c…
  • FAR 52.232-5 Payments Under Fixed-Price Construction Contracts.
    … and conditions of the subcontract; and (4) This certification is not to be construed as final acceptance of a subcontractor's performance. (Name) (Title) (Date) (d) Refund of unearned amounts. If the Contractor, after making a certifi…
  • FAR 52.232-7 Payments under Time-and-Materials and Labor-Hour Contracts.
    …had been incurred after the increase in the ceiling price. (f) Audit. At any time before final payment under this contract, the Contracting Officer may request audit of the vouchers and supporting documentation. Each payment previously mad…
  • FAR 52.232-10 Payments Under Fixed-Price Architect-Engineer Contracts.
    … excess amount to the Contractor. (c) Upon satisfactory completion by the Contractor and final acceptance by the Contracting Officer of all the work done by the Contractor under the “Statement of Architect-Engineer Services”, the Contracto…
  • FAR 52.232-26 Prompt Payment for Fixed-Price Architect-Engineer Contracts.
    …ay after Government acceptance of the work or services completed by the Contractor. For a final invoice, when the payment amount is subject to contract settlement actions (e.g., release of claims), acceptance is deemed to occur on the effec…
  • FAR 52.242-3 Penalties for Unallowable Costs.
    … Costs (DEC 2022) (a) Definition. Proposal, as used in this clause, means either— (1) A final indirect cost rate proposal submitted by the Contractor after the expiration of its fiscal year which— (i) Relates to any payment made on the b…
  • FAR 52.246-17 Warranty of Supplies of a Noncomplex Nature.
    …e Contractor in complying with this clause shall be considered when negotiating the total final price under the Incentive Price Revision clause of this contract. After establishment of the total final price, Contractor compliance with this …
  • FAR 52.246-18 Warranty of Supplies of a Complex Nature.
    …e Contractor in complying with this clause shall be considered when negotiating the total final price under the Incentive Price Revision clause of this contract. After establishment of the total final price, Contractor compliance with this …
  • FAR 52.246-19 Warranty of Systems and Equipment under Performance Specifications or Design Criteria.
    …e Contractor in complying with this clause shall be considered when negotiating the total final price under the Incentive Price Revision clause of this contract. After establishment of the total final price, Contractor compliance with this …
  • FAR 52.249-3 Termination for Convenience of the Government (Dismantling, Demolition, or Removal of Improvements).
    …posals arising from the termination of subcontracts; the approval or ratification will be final for purposes of this clause. (6) As directed by the Contracting Officer, transfer title and deliver to the Government (i) the fabricated or unf…
  • FAR 52.249-6 Termination (Cost-Reimbursement).
    …e reimbursable in whole or in part, under this contract; approval or ratification will be final for purposes of this clause. (6) Transfer title (if not already transferred) and, as directed by the Contracting Officer, deliver to the Govern…

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.