With nationwide inflation still at 8%, federal contractors are getting some additional relief from the General Services Administration. GSA updated its guidance for how quickly contracting officers can raise prices on the schedule. Jeff Koses, GSA’s senior procurement executive, and Mark Lee, the assistant commissioner in the Office of Policy and Compliance in GSA’s Federal Acquisition Service, told contracting officers on Sept. 12 that they do not need additional approvals to invoke the economic price adjustment (EPA) clause in contracts. GSA said the new process will remain in place through March 2023. Click here to read more.
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