Economic Price Adjustment -- FAR Sections Affected: 16.203; 52.216-2; 52.216-3; and 52.216-4

Forms and Documents

Document	Type	Status	Availability
9000-0068 -Supporting Statement - (7-19-19).docx	Supporting Statement A	Uploaded 2019-08-13	Available

IC Document Collections

IC ID	Collection	Type	Status	Form
36539	Economic Price Adjustment -- FAR Sections Affected: 16.203; 52.216-2; 52.216-3; and 52.216-4		Modified

ICR Details

OMB Control No: 9000-0068	ICR Reference No: 201908-9000-001
Status: Active	Previous ICR Reference No: 201604-9000-004
Agency/Subagency: FAR	Agency Tracking No:
Title: Economic Price Adjustment -- FAR Sections Affected: 16.203; 52.216-2; 52.216-3; and 52.216-4
Type of Information Collection: Revision of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 09/14/2019
	Date Received in OIRA: 08/13/2019
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	09/30/2022	36 Months From Approved	09/30/2019
Responses	759,700	0	4,497
Time Burden (Hours)	1,139,550	0	6,746
Cost Burden (Dollars)	69,512,550	0	310,293

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Abstract: FAR 16.203, Fixed-price contracts with economic price adjustment, and associated clauses at 52.216-2, 52.216-3, and 52.216-4 provide for upward and downward revision of the stated contract price upon occurrence of specified contingencies. In order for the contracting officer to be aware of price changes, the firm must provide pertinent information to the Government.

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Authorizing Statute(s): None

Citations for New Statutory Requirements: None

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
	Not associated with rulemaking

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Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	84 FR 16019	04/17/2019
30-day Notice:	Federal Register Citation:	Citation Date:
	84 FR 37873	08/02/2019
Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 1

IC Title	Form No.	Form Name
Economic Price Adjustment -- FAR Sections Affected: 16.203; 52.216-2; 52.216-3; and 52.216-4

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ICR Summary of Burden

	Total Approved	Previously Approved	Change Due to New Statute	Change Due to Agency Discretion	Change Due to Adjustment in Estimate	Change Due to Potential Violation of the PRA
Annual Number of Responses	759,700	4,497	0	755,203	0	0
Annual Time Burden (Hours)	1,139,550	6,746	0	1,132,804	0	0
Annual Cost Burden (Dollars)	69,512,550	310,293	0	69,202,257	0	0

Burden increases because of Program Change due to Agency Discretion: Yes

Burden Increase Due to: Miscellaneous Actions

Burden decreases because of Program Change due to Agency Discretion: No

Burden Reduction Due to:

Short Statement: The information collection requirement in the FAR remains unchanged, except for the use of more current wage rate information. The estimated annual reporting burden has decreased from what was published in the Federal Register at 81 FR 21870, on April 13, 2016. The estimated total burden hours has increased from 6,746 to 1,139,550. The upward adjustment is based on information from the Federal Procurement Data System. The number of responses is adjusted from 4,497 to 759,700 based on FPDS data, and the estimated hours per response of 1.5 hours remains the same. The 1.5 hours allows for additional time to meet the requirements under the relevant clauses.

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Annual Cost to Federal Government: $46,341,700

Does this IC contain surveys, censuses, or employ statistical methods? No

Does this ICR request any personally identifiable information (see OMB Circular No. A-130 for an explanation of this term)? Please consult with your agency's privacy program when making this determination.     No

Does this ICR include a form that requires a Privacy Act Statement (see 5 U.S.C. §552a(e)(3))? Please consult with your agency's privacy program when making this determination.     No

Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]? No

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? No

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? No

Is this ICR related to the Pandemic Response? Uncollected

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Common Form ICR:  No

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On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).

The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:

(a) It is necessary for the proper performance of agency functions;

(b) It avoids unnecessary duplication;

(c) It reduces burden on small entities;

(d) It uses plain, coherent, and unambiguous language that is understandable to respondents;

(e) Its implementation will be consistent and compatible with current reporting and recordkeeping practices;

(f) It indicates the retention periods for recordkeeping requirements;

(g) It informs respondents of the information called for under 5 CFR 1320.8 (b)(3) about:

(i) Why the information is being collected;

(ii) Use of information;

(iii) Burden estimate;

(iv) Nature of response (voluntary, required for a benefit, or mandatory);

(v) Nature and extent of confidentiality; and

(vi) Need to display currently valid OMB control number;

(h) It was developed by an office that has planned and allocated resources for the efficient and effective management and use of the information to be collected.

(i) It uses effective and efficient statistical survey methodology (if applicable); and

(j) It makes appropriate use of information technology.

If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.

Certification Date: 08/13/2019

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