What FAR Part 16 - Types of Contracts (Fixed-Price, Cost-Reimbursement, IDIQ, and Time-and-Materials Selection) requires
Federal Acquisition Regulation (FAR) Part 16 prescribes the contract types available for federal procurement and the criteria for selecting among them, with the controlling principle at 16.103 that each contract file shall include documentation showing why the particular contract type was selected and (for non-firm-fixed-price contracts) the Government's additional risks, mitigation, and resource requirements: Subpart 16.2 establishes fixed-price types - firm-fixed-price (16.202) with no cost-experience adjustment, fixed-price with economic price adjustment (16.203) for specified contingencies, and fixed-price incentive (16.204); Subpart 16.3 governs cost-reimbursement types limited under 16.301 to circumstances where requirements cannot be defined sufficiently for fixed-price, including cost-plus-fixed-fee (16.306) with completion form preferred over term form; Subpart 16.5 controls indefinite-delivery contracts including indefinite-quantity (16.504) where the contracting officer must give multiple-award preference to the maximum extent practicable and contracts exceeding USD 150 million require head-of-agency single-source determination; Subpart 16.6 governs time-and-materials contracts which are not fixed-price under 16.201(b) and require a ceiling price and competitive determination-and-findings under FAR 12.207 for commercial services or 16.601 for non-commercial. Contract type selection drives risk allocation, oversight intensity, and audit requirements.
Pillar: Public Sector & Government Procurement · Authority: Federal Acquisition Regulatory Council (DOD, GSA, NASA) issuing the Federal Acquisition Regulation under 41 USC 1303 and 48 CFR Chapter 1 · Version: 1.0.0 · Last updated:
Primary source: https://www.acquisition.gov/far/part-16
SHA-256 integrity: 221ad6d0e45c56f6f79ed34e919471813593199c4450e2197b8b68208ab25f16
Primary Citations — 6 traced to source
- FAR Part 16, Section 16.103(a) Negotiating contract type: 'Selecting the contract type is generally a matter for negotiation and requires the exercise of sound judgment. Negotiating the contract type and negotiating prices are closely related and should be considered together. The objective is to negotiate a contract type and price (or estimated cost and fee) that will result in reasonable contractor risk and provide the contractor with the greatest incentive for efficient and economical performance.'
- FAR Part 16, Section 16.103(d) Contract type documentation: 'Each contract file shall include documentation to show why the particular contract type was selected. This shall be documented in the acquisition plan, or in the contract file if a written acquisition plan is not required by agency procedures...When a contract type other than firm-fixed-price is contemplated, the contracting officer shall (1) Identify the reason that the proposed type was selected; (2) Describe the Government's additional risks and the burden to manage the contract type selected; (3) Describe how the Government has determined that the contract type selected appropriately mitigates Government risk; and (4) Identify the resources required for proper contract administration of the contract type selected.'
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