(1) A contractor shall, except as provided in subsection (3) of this section, submit cost or pricing data and shall certify that, to the best of his or her knowledge and belief, the cost or pricing data submitted was accurate, complete, and current as of a mutually determined specified date prior to the date of:
(a) The pricing of any contract awarded by requests for proposals as specified in section 24-103-203, or pursuant to the sole source procurement authority as specified in section 24-103-205, where the total contract price is expected to exceed an amount established by rule; or
(b) The pricing of any contract modification which is expected to exceed an amount established by rule.
(2) Repealed.
(3) The requirements of this section need not be applied to any contract in which:
(a) The contract price is based on adequate price competition;
(b) The contract price is based on established catalog prices or market prices;
(c) The contract price is set by law or rule; or
(d) It is determined in writing, pursuant to rules, that the requirements of this section may be waived and the reasons for such waiver are stated in writing.
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