FAR 32.503-11 Adjustments for price reduction
Subsection Federal Acquisition Regulation
Facts
- Citation
- FAR 32.503-11
- Type
- Subsection
- Text as of
- FAC 2026-01
- Official text
- acquisition.gov
Text from acquisition.gov. Federal Register history from the Federal Register's records of the rules that amended this subsection.
Text
(a) If a retroactive downward price reduction occurs under a redeterminable contract that provides for progress payments, the contracting officer shall-
(1) Determine the refund due and obtain repayment from the contractor for the excess of payments made for delivered items over amounts due as recomputed at the reduced prices; and
(2) Increase the unliquidated progress payments amount for overdeductions made from the contractor’s billings for items delivered.
(b) The contracting officer shall also increase the unliquidated progress payments amount if the contractor makes an interim or voluntary price reduction under a redeterminable or incentive contract.
Quick answers
What is FAR 32.503-11?
FAR 32.503-11 is a subsection of the Federal Acquisition Regulation, titled "Adjustments for price reduction".
Are changes to FAR 32.503-11 proposed?
No proposed rule from the last 3 years is waiting on a final rule.
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