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18.1 Required Records. The Agency must maintain records sufficient to detail thesignificant history of each procurement action. These records shall include, but shall not necessarily be limited to, the following: 

  • 18.1.1 Rationale for the method of procurement (if not self-evident). 
  • 18.1.2 Rationale of contract pricing arrangement (also if not self-evident). 
  • 18.1.3 Reason for accepting or rejecting the bids or offers.
  • 18.1.4 Basis for the contract price (as prescribed in this handbook). 
  • 18.1.5 A copy of the contract documents awarded or issued and signed by the Contracting Officer. 
  • 18.1.6 Basis for contract modifications; and 
  • 18.1.7 Related contract administration actions. 

18.2 Level of Documentation. The level of documentation should be commensurate with the value of the procurement.

18.3 Record Retention. Records are to be retained for a period of three years after final payment and all matters pertaining to the contract are closed.