(a) The policies and procedures of FAR 15.403 apply to lease contract actions.
(b) FAR 15.403-1 defines exceptions to and waivers for submitting cost or pricing data. Most leasing actions will have adequate price competition. For price analysis, you may use a market survey or an appraisal conducted using accepted real property appraisal procedures to establish a market price for comparison.
(c) In exceptional cases, the requirement for submission of certified cost or pricing data may be waived under FAR 15.403-1(c)(4).
(d) If cost or pricing data are required, follow the procedures in FAR 15.403-4 and 15.406-2.
