Recorded on 05/11/23
Title: Inflation: Economic Price Adjustments (EPAs) and Extraordinary Contractual Relief (ECR)
Description:
2022 saw a rise in inflation which has persisted, although at lower levels, through 2023. Defense Pricing and Contracting (DPC) has issued memoranda to address this issue and in the 2023 NDAA, Congress provided further guidance on requesting contractual relief, but many contractors and contracting professionals still have questions. One form of relief often cited is the authority contained in FAR subpart 50.1, Extraordinary Contractual Actions.
During this presentation, Dr. Butler will provide awareness of the guidance, courses, and webinars DAU has hosted to inform the acquisition workforce. Then, Ms. LoBosco will delve into the often-confusing requirements of FAR subpart 50.1, using her experience as counsel for the USCG Offshore Patrol Cutter Program in the aftermath of Hurricane Michael.
Learning Objectives:
- Become aware of DAU resources to help participants:
- Define inflation.
- Identify the types and sources of price index numbers.
- Adjust prices for inflation.
- Describe the impact of inflation on Government contracts.
- Understand the circumstances under which an Economic Price Adjustment clause would be used.
- Determine any adjustment to the contract price when applying an EPA clause.
- Become familiar with Pub. L. 85-804, Extraordinary Contractual Relief to include:
- The purpose
- Requesting relief
- Processing cases
- Types of relief available
CMBOK Competencies:
- 1.0 Guiding Principals
- 4.0 Post Award
Presenters:
- Dr. Renee Butler, Defense Acquisition University, Learning Director for Price, Cost, and Finance
- Ms. Julia LoBosco, Chief, Office of Acquisition and Procurement Law within the Coast Guard, Office of the Judge Advocate General
- Bios
Credits:
- 1.5 CPE/CLP credits for participation
Cost:
- $0 Regular, New Professional, Retired and Student Members
- $55 Affiliate Members
- $69 Non-Member
Course Access: