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GSA Contracts and Market Indicators


There is a specific course of action that must be taken in order to navigate the GSA’s Terms and Conditions, and properly hedge your prices according to any fluctuation in a Market Indicator (such as your national currency, oil, metals, etc.).

you can submit an offer with the stipulation that your prices can be adjusted according to a Market Indicator. So you would have to convert all prices to USD, but any fluctuations in your national currency (or any other reasonable market indicator like steel prices, oil prices, etc.) would make for a quick and easy modification to your prices accordingly. Below is the section from the Solicitation for GSA Schedule 71 (however, this is a common to most Solicitations):

Adjustments based on an agreed-upon market indicator prior to award. The market indicator, as used in this clause, means the originally released public index, public survey or other public, based market indicator. The market indicator shall be the originally released index, survey or market indicator, not seasonally adjusted, published by the [to be negotiated], and made available at [to be identified]. Any price adjustment shall be based on the percentage change in the designated (i.e. indicator identification and date) market indicator from the initial award to the latest available as of the anniversary date of the contract effective date, subject to paragraph (e), below. If the market indicator is discontinued or deemed no longer available or reliable by the Government, the Government and the Contractor will mutually agree to a substitute. The contract
 modification reflecting the price adjustment will be effective upon approval by the Contracting Officer, subject to paragraph (g), below. The adjusted prices shall apply to orders issued to the Contractor on or after the effective date of the contract modification.

Here is what the Federal Acquisition Regulations (FAR) has to say about government contracts and foreign currency:

52.214-35 Submission of Offers in U.S. Currency.
As prescribed in 14.201-6(x), insert the following provision:
Submission of Offers in U.S. Currency (Apr 1991)
Offers submitted in response to this solicitation shall be in terms of U.S. dollars. Offers received in other than U.S. dollars shall be rejected.


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