The need to acquire cost or pricing data has its origin with the movement of Public Law 87-653, better known as “The Truth in Negotiations Act (TINA)”. In which it was passed in 1962. This law is relatively easy to understand. TINA essentially requires the contractor or contractors to: 1) submit cost and pricing data showing facts and judgements on how they arrived at the proposed bid. 2) confirm that the data is up to date, accurate and complete at the time agreement is reached on price.
TINA
The Truth in Negotiations Act (“TINA”) essentially states that the contractors must furnish a cost or pricing data before an agreement on price for negotiated procurements of more than $750,000. The cost or pricing data should state all facts that a …show more content…
TINA entails that contracts steps that is certified should contain a provision that the price of the contract, including profit or fee, shall be adjusted to exclude any significant amount by which …the price was increased because the contractor (or subcontractor) submitted defective [i.e., inaccurate, noncurrent or incomplete] cost or pricing data. TINA also entails that the contractor will and shall have as a liable defense that the United States didn’t count on the defective data submission from the contractor or …show more content…
FAC made number of changes to the Federal Acquisition Regulation (FAR) that stemmed from positive law codifications. Along with the two positive law codifications there is several of number changes to the FAR especially in terminology and statutory references. In the loose-leaf edition by itself, the circular is 614 pages long.
For example, The Truth in Negotiations Act, has become Truthful Cost or Pricing Data, at 41 U.S.C. chapter 35. To use a historical point of view, TINA was not the Truth in Negotiations Act. Public Law 87-653 does not use the term “truth” in its context. Early writers used several different terms, like TINA, to refer to the act (e.g., “Defective Pricing Data Statute," "Defective Pricing Law," "Truth in Negotiations Statute" and “Truth-in-Negotiating Certificate"). (See Alan E. Kushnick’s Equitable Reduction Under the Defective Pricing Statute: Public Law 87-653, Santa Clara Law Review, 1-1-1968.)
How it has affected government
TINA
The Truth in Negotiations Act (“TINA”) essentially states that the contractors must furnish a cost or pricing data before an agreement on price for negotiated procurements of more than $750,000. The cost or pricing data should state all facts that a …show more content…
TINA entails that contracts steps that is certified should contain a provision that the price of the contract, including profit or fee, shall be adjusted to exclude any significant amount by which …the price was increased because the contractor (or subcontractor) submitted defective [i.e., inaccurate, noncurrent or incomplete] cost or pricing data. TINA also entails that the contractor will and shall have as a liable defense that the United States didn’t count on the defective data submission from the contractor or …show more content…
FAC made number of changes to the Federal Acquisition Regulation (FAR) that stemmed from positive law codifications. Along with the two positive law codifications there is several of number changes to the FAR especially in terminology and statutory references. In the loose-leaf edition by itself, the circular is 614 pages long.
For example, The Truth in Negotiations Act, has become Truthful Cost or Pricing Data, at 41 U.S.C. chapter 35. To use a historical point of view, TINA was not the Truth in Negotiations Act. Public Law 87-653 does not use the term “truth” in its context. Early writers used several different terms, like TINA, to refer to the act (e.g., “Defective Pricing Data Statute," "Defective Pricing Law," "Truth in Negotiations Statute" and “Truth-in-Negotiating Certificate"). (See Alan E. Kushnick’s Equitable Reduction Under the Defective Pricing Statute: Public Law 87-653, Santa Clara Law Review, 1-1-1968.)
How it has affected government