{"data":{"id":"us-ky/krs-45a.405","jurisdiction":"us-ky","citation":"KRS 45A.405","heading":"Cost or pricing data.","body":"(1) A contractor shall submit cost or pricing data and shall certify that, to the best of his\nknowledge and belief, the cost or pricing data submitted was accurate, complete,\nand current as of a mutually determined specified date prior to the date of:\n(a) Pricing of any negotiated contract where the total contract price is expected to\nexceed fifty thousand dollars ($50,000), or such lesser amount as may be\nprescribed by the local public agency; or\n(b) Pricing of any change order or contract modification which  is expected to\nexceed twenty-five thousand dollars ($25,000), or such lesser amount as may\nbe prescribed by the local public agency.\n(2) Any contract, change, or modification thereto under which a certificate is required\nshall contain a provision that the price to the local public agency, including profit or\nfee, shall be adjusted to exclude any significant sums by which the local public\nagency finds that such price was increased because the contractor -furnished cost or\npricing data which, as of the date agreed upon between the parties, was inaccurate,\nincomplete, or not current.\n(3) The requirement of this section need not be applied to contracts where the price\nnegotiated is based on adequate price competition, established catalogue or market\nprices of commercial items sold in substantial quantities to the general public,\nprices set by law or regulation, or in exceptional cases where it is determined in\nwriting that the requirements of this section may be waived, and the reasons for\nsuch waiver are enumerated in the determination.","path":["KRS Chapter 45A"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=22415","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:49:07Z","sha256":"426ed17479dbd06da108f21f5b837fc35b137a999f1805f82e919a3b441e8ad3","source_id":"us-ky","stale":false,"prev":"us-ky/krs-45a.400","next":"us-ky/krs-45a.410"},"notice":"GroundRules: Original legal text. Not legal advice."}