Section 3-122-126 - Certificate of current cost or pricing data(a) When cost or pricing data must be certified, the certificate of current cost or pricing data form provided by the policy board shall be included in the contract file along with any award documentation required under this subchapter. The offeror or contractor shall be required to submit the certificate as soon as practicable after agreement is reached on the contract price or adjustment.(b) Although the certificate pertains to "cost or pricing data," it is not to be construed as a representation as to the accuracy of the offeror's or contractor's judgment on the estimated portion of future costs or projections. It does, however, constitute a representation as to the accuracy of the data upon which the offeror's or contractor's judgment is based. A certificate of current cost or pricing data shall not substitute for examination and analysis of the offeror's or contractor's proposal.(c) Whenever it is anticipated that a certificate of current cost or pricing data may be required, notice of this requirement shall be included in the solicitation. If a certificate is required, the contract shall include a clause giving the State a contract right to reduction in the price as provided herein.(d) The exercise of an option at the price established in the initial negotiation in which certified cost or pricing data were used does not require recertification or further submission of data.[Eff 12/15/95; comp 11/17/97; comp MAR 21 2008] (Auth: HRS § 103D-202) (Imp: HRS § 103D-312)