New Limits On Use Of "Of A Type" Commercial Services
Client Alert | 1 min read | 10.19.09
Implementing statutory requirements, FAR has been amended with interim rules (74 Fed. Reg. 52852 (Oct. 14, 2009)) providing that, when purchasing services that are not offered and sold competitively in substantial quantities in the commercial marketplace but are "of a type" offered in the commercial marketplace, the services may be considered commercial items exempt from the cost or pricing data requirements of the Truth in Negotiations Act only if the contracting officer determines in writing that the offeror has submitted sufficient information to evaluate, through price analysis, the reasonableness of the price of such services. In order to make the determination required by the new regulation, the contracting officer may request the offeror to submit prices paid for the same or similar commercial items under comparable terms and conditions by both Government and commercial customers and if the contracting officer determines that such comparable information is not sufficient to determine the reasonableness of price, the contracting officer may request other relevant information regarding the basis for price or cost, including information on labor costs, material costs, and overhead rates.
Insights
Client Alert | 3 min read | 09.15.25
On August 19, 2025, the U.S. Senate Committee on Finance (“Senate Finance Committee”) sent Paul Atkins, Chairman, U.S. Securities and Exchange Commission (“SEC”) a letter calling on the SEC to investigate White River Energy Corp (“White River”). In the letter, the Senate Finance Committee confirmed a criminal investigation into White River related to the sale of so-called “tribal tax credits” that according to both Congress and the IRS, do not exist. The letter further states that White River allegedly earned millions of dollars selling these credits and has not been forthcoming with investors regarding the existence of the criminal investigation. According to the Senate Finance Committee, White River has failed to file financial disclosure documents with the SEC since March 15, 2024, missing six consecutive reporting periods. The letter instructs White River to disclose the existence of the DOJ criminal tax investigation, and calls on the SEC to take action if White River fails to do so.
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