Contract pricing arrangements.
Richmond, Va., City Code § 21-57
in effectSec. 21-57. - Contract pricing arrangements.
(a) Except as prohibited in this article, public contracts may be awarded on a fixed-price or cost reimbursement basis or on any other basis that is not prohibited.
(b) Subject to the limitations of this section, any type of contract which is appropriate to the procurement and which will promote the best interests of the City may be used, provided that the use of a cost-plus-a-percentage-of-cost contract or a cost-plus-a-percentage-of-construction-cost contract is prohibited.
(c) A cost reimbursement contract may be used only when a determination is made in writing that such contract is likely to be less costly to the City than any other type or that it is impracticable to obtain the supply, service, or construction item required except under such a contract.
(Code 1993, § 22.1-53; Code 2004, § 74-61; Code 2015, § 21-57; Code 2020, § 21-57)
Source: City of Richmond, Virginia, Code (2026 recodification) and Charter (Municode Library, library.municode.com)URL: https://library.municode.com/va/richmond/codes/code_of_ordinances?nodeId=PTIICICO_CH21PUPR_ARTIICOFOMESOSE_S21-57COPRARFetched: 11/8/2026