74.46—Procurement records.
Procurement records and files for purchases in excess of the small purchase threshold must include the following at a minimum—
(a)
Basis for contractor selection;
(b)
Justification for lack of competition when competitive bids or offers are not obtained;
(c)
Basis for award cost or price.
(Approved by the Office of Management and Budget under control number 1880-0513)
Code of Federal Regulations
(Authority:
20 U.S.C. 1221e-3, 3474
; OMB Circular A-110)
Code of Federal Regulations
[59 FR 34724, July 6, 1994, as amended at 60 FR 6660, Feb. 3, 1995]