BBNC Code of Ethics Code of Ethics_JooMag | Page 31

PROPOSAL PREPARATION
The Truth in Negotiations Act (TINA)
generally requires that company
personnel who prepare contract
proposals, negotiate contracts with
the U.S. government, or provide
information for those who do
must make sure all statements and
communications are truthful, clear,
complete, and presented in an easy-to-
understand manner.
Cost and pricing data include all
facts that prudent buyers and sellers
would reasonably expect to affect
price negotiations. It includes factual
information or data such as:
Your Responsibilities
Ensure cost and pricing data are
current, accurate, and complete.
Correct any information provided to
the government that is NOT current,
accurate, and complete.
Immediately submit updated
information if it is received before
the parties reach price agreement.
Subcontracted items;
Direct labor hours and dollars;
Indirect expenses;
Information on management
decisions that could have
significant bearing on costs;
Vendor quotations;
Historical data upon which
estimates are based.
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