Fixed-Price Contracts Are Simple – Or Are They?
This is the first edition of Holland & Knight's Federal Real Estate Leasing Year in Review. For years, our GSA Leasing & Federal Real Estate Team has worked with LexisNexis to provide updated versions of the Federal...more
The FY2023 James M. Inhofe National Defense Authorization Act (FY2023 NDAA) included several important provisions for government contractors. We described several of those important FY2023 NDAA provisions in a presentation...more
As part of the FY23 National Defense Authorization Act (NDAA) passed in December 2022, Congress granted the Department of Defense (DoD) new authority to modify existing fixed-price contracts to compensate defense contractors...more
Section 822 of the 2023 National Defense Authorization Act, Public Law No. 117-7776 (Dec. 23, 2022) provides new authority for some defense contractors and subcontractors to obtain price increases that address the impacts of...more
Inflation is generally down from 2021, but is still high in too many places, and is expected to persist in 2023. With inflation eroding value for this long, a Government contractor may need to obtain contract relief. ...more
Monetary inflation effectively imposes a tax on just about everything we purchase. But for many years, inflation was so muted and gradual that the economy could manage it with minimal disruption or personal hardship....more
The global construction and engineering industries are grappling with inflationary pressure, continued impacts from COVID-19 plus material and labour price increases....more
The Office of the Under Secretary of Defense, Acquisition and Sustainment, Defense Pricing and Contracting (DPC) issued revised guidance last Friday granting DoD contracting officers increased flexibility to help contractors...more
WHAT: The U.S. Department of Defense (DOD) is now signaling that it may be more willing to consider requests for equitable adjustment to firm-fixed-price contracts to compensate contractors for the effects of inflation....more
The cost of construction materials has risen like never before. This, in turn, creates pressure for parties to use cost estimates and budgets rather than "fixed price" contracts. Providing cost estimates can therefore be...more
With inflation in the United States ballooning 8.2% since April of 2022, government contractors with firm fixed price (FFP) contracts are looking for relief. Unfortunately, the Department of Defense (DoD) recently issued a...more
In a fixed-price contract, increased costs caused by market inflation alone will not entitle the contractor to an equitable adjustment. Contracting Officers are advised to utilize contract provisions that include an...more
WHAT: The U.S. Department of Defense (DoD) issued a memorandum to provide guidance on the use of economic price adjustments (EPAs) in existing and prospective DoD contracts in response to contracting officers’ (COs) and...more
The annual inflation rate in the United States rose 7% in 2021, its highest rate since 1982. The construction industry has not been immune from this general trend, with steel prices rising 200% and lumber prices soaring as...more