About us
The Review Board for Government Contracts (RBGC) reviews and maintains the government profit formula used by the Ministry of Defence when pricing single source work. We also review the price of individual contracts that are referred to it under contract conditions, by one or both parties to the contract.
Who we are
The review board is made up of a chairman, 2 government nominated members and 2 CBI nominated members.
Our responsibilities
We are responsble for:
- reviewing the profit formula used in pricing non-competitive government contracts, on a 3 year basis
- investigating complaints regarding the price of a contract if it is not deemed to be fair and reasonable by either party involved.
Priorities
We now carry out intermediate reviews of the profit formula at the end of the first and second year of each 3 year period. These reviews are usually limited to looking at the target rate of return and associated assumptions.