# 41 CFR § 51-2.7: Fair market price

> Federal · Regulations · In force

URL: https://www.frixlaw.com/law-library/statutes/ecfr-41-51-2.7

## Section

- **Citation:** 41 CFR § 51-2.7
- **Heading:** Fair market price
- **Jurisdiction:** Federal
- **Kind:** Regulations
- **Status:** In force
- **Text as of:** September 22, 2026
- **Source:** Publisher's official text
- **Location:** Title 41—Public Contracts and Property Management > Subtitle B—Other Provisions Relating to Public Contracts > CHAPTER 51—COMMITTEE FOR PURCHASE FROM PEOPLE WHO ARE BLIND OR SEVERELY DISABLED > PART 51-2—COMMITTEE FOR PURCHASE FROM PEOPLE WHO ARE BLIND OR SEVERELY DISABLED

## Text

(a) The Committee is responsible for determining fair market prices, and changes thereto, for commodities and services on the Procurement List. The Committee is responsible for determining fair market prices, and changes thereto, for commodities and services on the Procurement List. The initial fair market price may be based on, where applicable, bilateral negotiations between contracting activities and authorized nonprofit agencies, market research, comparing the previous price paid, price competition, or any other methodology specified in Committee policies and procedures.
(b) The initial fair market price may be revised in accordance with the methodologies established by the Committee, which include, where applicable, bilateral negotiations between contracting activities and authorized nonprofit agencies assisted by central nonprofit agencies, the use of economic indices, price competition, or any other methodology permitted under the Committee's policies and procedures.
(c) After review and analysis, the central nonprofit agency shall submit to the Committee the recommended fair market price and, where a change to the fair market price is recommended, the methods by which prices shall be changed to the Committee, along with the information required by Committee pricing procedures to support each recommendation. The Committee will review the recommendations, revise the recommended prices where appropriate, and establish a fair market price, or change thereto, for each commodity or service which is the subject of a recommendation.
[64 FR 55842, Oct. 15, 1999, as amended at 89 FR 20338, Mar. 22, 2024]

## Nearby sections

- [41 CFR § 51-1.1 § 51-1.1 Policy.](https://www.frixlaw.com/law-library/statutes/ecfr-41-51-1.1.md)
- [41 CFR § 51-1.2 § 51-1.2 Mandatory source priorities.](https://www.frixlaw.com/law-library/statutes/ecfr-41-51-1.2.md)
- [41 CFR § 51-1.3 § 51-1.3 Definitions.](https://www.frixlaw.com/law-library/statutes/ecfr-41-51-1.3.md)
- [41 CFR § 51-2.1 § 51-2.1 Membership.](https://www.frixlaw.com/law-library/statutes/ecfr-41-51-2.1.md)
- [41 CFR § 51-2.2 § 51-2.2 Powers and responsibilities.](https://www.frixlaw.com/law-library/statutes/ecfr-41-51-2.2.md)
- [41 CFR § 51-2.3 § 51-2.3 Notice of proposed addition or deletion.](https://www.frixlaw.com/law-library/statutes/ecfr-41-51-2.3.md)
- [41 CFR § 51-2.4 § 51-2.4 Determination of suitability.](https://www.frixlaw.com/law-library/statutes/ecfr-41-51-2.4.md)
- [41 CFR § 51-2.5 § 51-2.5 Committee decision.](https://www.frixlaw.com/law-library/statutes/ecfr-41-51-2.5.md)
- [41 CFR § 51-2.6 § 51-2.6 Reconsideration of Committee decision.](https://www.frixlaw.com/law-library/statutes/ecfr-41-51-2.6.md)
- [41 CFR § 51-2.7 § 51-2.7 Fair market price.](https://www.frixlaw.com/law-library/statutes/ecfr-41-51-2.7.md)
- [41 CFR § 51-2.8 § 51-2.8 Procurement list.](https://www.frixlaw.com/law-library/statutes/ecfr-41-51-2.8.md)
- [41 CFR § 51-2.9 § 51-2.9 Oral presentations by interested persons at Committee meetings.](https://www.frixlaw.com/law-library/statutes/ecfr-41-51-2.9.md)
- [41 CFR § 51-3.1 § 51-3.1 General.](https://www.frixlaw.com/law-library/statutes/ecfr-41-51-3.1.md)
- [41 CFR § 51-3.2 § 51-3.2 Responsibilities under the AbilityOne Program.](https://www.frixlaw.com/law-library/statutes/ecfr-41-51-3.2.md)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/ecfr-41-51-2.7. Check the current official text before relying on it. Not legal advice.