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id="FAR_52_216_16"
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xtrc="GFI">
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<title class="- topic/title ">
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<ph class="- topic/ph " props="autonumber">52.216-16</ph> Incentive Price Revision
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<ph class="- topic/ph " props="autonumber">52.216-16</ph> Incentive Price Revision—Firm
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Target.</title>
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<conbody class="- topic/body concept/conbody " outputclass="clause">
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<p class="- topic/p " id="d3244e8">As prescribed
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@@ -18,7 +18,7 @@ in <ph class="- topic/ph " outputclass="ClauseProvisionXREF">
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href="16.406.dita#FAR_16_406"
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outputclass="fm:ParaNumOnly">16.406</xref>(a)</ph>, insert
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the following clause:</p>
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<p class="- topic/p " id="d3244e15" outputclass="Ctr_SmCaps">Incentive Price Revision
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<p class="- topic/p " id="d3244e15" outputclass="Ctr_SmCaps">Incentive Price Revision—Firm Target (Jan
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2022)</p>
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<ol class="- topic/ol " id="d3209e25">
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<li class="- topic/li ">
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@@ -40,8 +40,7 @@ the ceiling price of <cite class="- topic/cite "
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xtrc="52.216-16_d3232e45"
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xtrf="GFI">_____</cite>).
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Any supplies or services that are to be (1) ordered separately under,
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or otherwise added to, this
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<p class="- topic/p " id="d3244e37">contract and (2)
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or otherwise added to, this contract and (2)
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subject to price revision in accordance with the terms of this clause
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shall be identified as such in a modification to this contract.</p>
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</li>
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@@ -53,7 +52,7 @@ shall be identified as such in a modification to this contract.</p>
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with <xref base="i1086363"
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class="- topic/xref "
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href="Part_31.dita#FAR_Part_31"
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outputclass="fm:Part">part
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outputclass="fm:Part">part 31</xref> of the Federal
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Acquisition Regulation (FAR) in effect on the date of this contract.</p>
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</li>
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<li class="- topic/li " props="Runin">
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@@ -74,12 +73,12 @@ in paragraph (a) of this clause, the Contractor shall submit in
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the format of <xref base="i1106753"
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class="- topic/xref "
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href="15.408.dita#FAR_15_408/i1106753"
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outputclass="fm:Table">Table
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outputclass="fm:Table">Table 15-2</xref>,
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FAR <xref base="i1106593"
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class="- topic/xref "
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href="15.408.dita#FAR_15_408"
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outputclass="fm:ParaNumOnly">15.408</xref>, or in any other
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form on which the parties agree
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form on which the parties agree—</p>
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<ol class="- topic/ol " id="d3209e90">
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<li class="- topic/li ">
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<p class="- topic/p " id="d3244e74">
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@@ -123,7 +122,7 @@ with the Interest clause.</p>
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<p class="- topic/p " id="d3244e99">
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<ph class="- topic/ph " props="autonumber">(d)</ph>
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<i class="+ topic/ph hi-d/i ">Price
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revision</i>. Upon the Contracting Officer
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revision</i>. Upon the Contracting Officer's receipt of the data
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required by paragraph (c) of this clause, the Contracting Officer
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and the Contractor shall promptly establish the total final price
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of the items specified in (a) of this clause by applying to final
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@@ -186,7 +185,7 @@ paragraph (a) of this clause shall be evidenced by a modification
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to this contract, signed by the Contractor and the Contracting Officer.
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This price shall not be subject to revision, notwithstanding any
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changes in the cost of performing the contract, except to the extent
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that
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that—</p>
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<ol class="- topic/ol " id="d3209e221">
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<li class="- topic/li ">
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<p class="- topic/p " id="d3244e153">
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@@ -225,7 +224,7 @@ prices will be substantially greater than the estimated final prices,
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the parties shall negotiate a reduction in the billing prices. Similarly,
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the parties may negotiate an increase in billing prices by any or
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all of the difference between the target prices and the ceiling
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price, upon the Contractor
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price, upon the Contractor's submission of factual data showing
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that final cost under this contract will be substantially greater
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than the target cost.</p>
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</li>
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@@ -252,13 +251,13 @@ until final price revision under this contract has been completed.</p>
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<li class="- topic/li ">
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<p class="- topic/p " id="d3244e192">
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<ph class="- topic/ph " props="autonumber">(1)</ph> Within
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45 days after the end of each quarter of the Contractor
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45 days after the end of each quarter of the Contractor's fiscal
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year in which a delivery is first made (or services are first performed)
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and accepted by the Government under this contract, and for each
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quarter thereafter, the Contractor shall submit to the contract
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administration office (with a copy to the contracting office and
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the cognizant contract auditor) a statement, cumulative from the
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beginning of the contract, showing
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beginning of the contract, showing—</p>
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<ol class="- topic/ol " id="d3209e304">
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<li class="- topic/li ">
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<p class="- topic/p " id="d3244e198">
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@@ -401,7 +400,7 @@ contract price be increased or decreased as a result of changes
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in the obligation of the Contractor to pay or bear the burden of
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certain taxes or duties, the increase or decrease shall be made
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in the total target price or, if it has been established, in the
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total final price, so that it will not affect the Contractor
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total final price, so that it will not affect the Contractor's profit
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or loss on this contract.</p>
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</li>
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</ol>
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