Some Economic Price Adjustment limitations are suspended

Pricing flexibilities allowed now through Sept. 30

      In response to rising inflation, the General Services Administration has suspended enforcement through Sept. 30 of many limitations contained in several Economic Price Adjustment contract clauses in GSA contracts, including Multiple-Award Schedule contracts.

      GSA outlined the pricing flexibilities for specific GSA contract clauses in an Acquisition Letter dated March 17.

      “Various factors continue to impact the global economy and disrupt supply chains, leading to general shortages and delays as well as price volatility. During this unusual time, GSA is seeing an increase in contract modification requests from contractors to increase pricing,” GSA stated, adding that some contractors “are removing items from Federal Supply Schedules to avoid selling at a loss.”

More information:
GSA Letter: https://bit.ly/3KAq8fP

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