Federal Acquisition Regulations (FAR)
The Federal Acquisition Regulation (FAR) is a set of rules and guidelines that govern the acquisition process for federal government agencies in the United States. The FAR was established in 1984 and is maintained by the Federal Acquisition Regulatory Council (FARC).
The FAR provides a comprehensive framework for federal government procurement and acquisition, covering all aspects of the acquisition process from planning and requirements development to contract administration and closeout. The FAR also provides guidance on issues such as competition, ethics, small business participation, and cost accounting standards.
The FAR is applicable to all federal agencies and contractors that do business with the federal government. It is designed to ensure that the government obtains the best value for its money while promoting competition and fairness in the procurement process.
The FAR is divided into subchapters, each covering a specific area of the acquisition process. Some of the key areas covered by the FAR include:
- Acquisition planning: This subchapter covers the process of planning for the acquisition of goods and services, including market research, acquisition strategies, and requirements development.
- Contracting methods and contract types: This subchapter covers the various types of contracts that can be used in federal procurement, such as fixed-price contracts, cost-reimbursement contracts, and time-and-materials contracts.
- Competition requirements: This subchapter covers the requirements for promoting competition in the procurement process, including rules for soliciting proposals, evaluating offers, and awarding contracts.
- Small business programs: This subchapter covers the requirements for promoting small business participation in federal procurement, including rules for set asides, subcontracting plans, and small business size standards.
- Contract administration and closeout: This subchapter covers the requirements for administering and closing out federal contracts, including rules for monitoring contractor performance, making payments, and resolving disputes.
In conclusion, the Federal Acquisition Regulation (FAR) is a set of rules and guidelines that govern the acquisition process for federal government agencies in the United States. The FAR covers all aspects of the acquisition process, from planning and requirements development to contract administration and closeout. The FAR is designed to promote competition, fairness, and efficiency in federal procurement while ensuring the government obtains the best value for its money.