FAR 500 Farun

FAR 500 is a section of the Federal Acquisition Regulation (FAR) which prescribes the requirements for conducting cost or pricing data analysis and preparing certified cost or pricing data for negotiating and administering Government contracts. This section of FAR identifies the type of costs and data elements that must be considered for price analysis, provides guidance for calculating and determining the reasonableness of the offered price, and outlines methods for evaluating the accuracy and completeness of the proposals. It includes information on the approval and certification processes, outlines other specific requirements for certain acquisitions, and provides guidance on establishing competitive range price adjustments.