What empowers the Contracting Officer to obtain data necessary for determining fair prices?

The correct answer is TINA, which stands for the Truth in Negotiations Act. This law requires contractors to provide certified cost or pricing data when negotiating contracts or modifications in certain scenarios, mainly when the contract value exceeds a specified threshold. TINA ensures that the government can access the necessary information about costs, allowing Contracting Officers to assess fairness in pricing.

By mandating the disclosure of relevant cost information, TINA empowers Contracting Officers to make informed decisions regarding the fairness and reasonableness of pricing proposals. This act plays a crucial role in the federal procurement process by promoting transparency and accountability, which is essential for protecting taxpayer interests.

In contrast, Contracting Guidelines Authority primarily outlines general procedures and policies for contracting but does not specifically empower officers to obtain pricing data. The Cost Verification Act deals more with techniques to analyze costs but lacks the strong requirement for data disclosure that TINA enforces. Negotiation Oversight Policy may provide oversight for negotiations but doesn’t have the same direct impact on data acquisition as TINA does.