Each contractor shall submit cost or price information and shall certify that, to the best of the contractor's knowledge, the information submitted is accurate, complete, and current as of the mutually determined specified date before the date the price of any: Negotiated contract is determined, if the total contract price is expected to exceed $100,000 or a smaller amount set by the procurement officer; or Change order or contract modification is determined when it is expected to exceed $100,000 or a smaller amount set by the procurement officer. Every contract, change order, or modification under which a cost and price certificate is required shall contain a provision that the price, including profit or fee, shall be adjusted to exclude any significant price increases occurring because the contractor furnished cost or price information which, as of the date agreed upon between the parties, was inaccurate, incomplete, or not current. The specific contract clause is contained in COMAR 21.07. This chapter does not apply to a lease of real property, an amendment to a lease of real property, or a contract for which the price negotiated is based on adequate price competition, established catalog or market prices of commercial items sold in substantial quantities to the general public, or prices set by law or regulation. State Finance and Procurement Article, §§12-101 and 13-220, Annotated Code of Maryland Effective date: July 1, 1981 (8:13 Md. R. II-5) Regulation .01 amended effective May 2, 2022 (49:9 Md. R. 531) Regulation .03 amended effective January 9, 1989 (15:27 Md. R. 3138)