Section 27-3221. ADJUSTMENTS FOR PRICE REDUCTION

 

3221.1If a retroactive downward price adjustment occurs under a redeterminable contract that provides for progress payments, the contracting officer shall do the following:

 

(a)Determine the refund due and obtain repayment from the contractor for the excess of payments made for delivered items over amounts due as recomputed at the reduced prices; and

 

(b)Increase the unliquidated progress payments amount for over-deduction made from the contractor's billings for items delivered.

 

3221.2The contracting officer shall increase the unliquidated progress payments amount if the contractor makes an interim or voluntary price reduction under a redeterminable or incentive contract.

 

source

Final Rulemaking published at 35 DCR 1636 (February 26, 1988).