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PRICE NEGOTIATION MEMORANDUM

The purpose of this Memorandum is to create an audit record evidencing that negotiations were conducted with the Supplier, the extent of such negotiations, and that the overall price offered is fair and reasonable.

1. Particulars

(a) Contract Details:

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(b) Supplier Details

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2. Offer Summary

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3. Negotiation Particulars

3.1 Procurement and Market Research

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3.6 It is confirmed that the differences between the proposal and pre-negotiation objective were satisfactorily resolved through negotiations as discussed within this memorandum, and that the price was determined fair and reasonable.
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