Okla. Admin. Code § 753:11-5-4

Current through Vol. 42, No. 4, November 1, 2024

Section 753:11-5-4 - Negotiation of contract

(a) Following the interview committee's work, the CFMO or designee will contact the selected consultant and negotiate a contract. This is the first time that a discussion regarding the negotiation of fees may take place.

(b) The CFMO will request a letter from the selected consultant detailing the cost proposal with a breakdown of costs.

(c) The consultant shall develop his fee proposal and return it to the CFMO. Fee proposals shall be based on the consultant's cost to produce the work along with projected expenses and a fair profit not to exceed 15 percent.

(d) The fee will be expressed as a firm fixed price fee according to an agreed scope of work, or may be based on a time and expense basis with a "not-to-exceed " cap. After a fee has been determined, the consultant will be asked to modify the proposal to reflect the agreed upon scope of work and fee, which modified proposal shall then become part of the contract.

Okla. Admin. Code § 753:11-5-4

Adopted by Oklahoma Register, Volume 36, Issue 24, September 3, 2019, eff. 9/18/2019