Acquisition Regulation (FAR) is the principal set of rules in the Federal
Acquisition Regulation System. The FAR System governs the "acquisition
process" by which the federal government purchases (acquires) goods and
services. The process consists of three phases: (1) need recognition and
acquisition planning, (2) contract formation and (3) contract administration.
The FAR System regulates the activities of government personnel in carrying out
that process. The FAR System is codified at Title 48, Chapter 1 of the United
StatesCode of Federal
Regulations. While nearly all federal government agencies are
required to comply with the FAR, some agencies are exempt (e.g., theFederal Aviation Administration and
the U.S. Mint). In those cases, the agency promulgates its own specific
procurement rules. The remainder of the FAR System consists mostly of sets ofregulations issued by
agencies of thefederal government
of the U.S. to supplement the FAR.
interested in pursuing federal contracts have many options available to
represent their company to potential buyers, to research federal marketplace
for available opportunities and understand the competition. The U.S. federal
government is America’s largest employer and world’s largest buyer of goods and
services. Federal contracting presents a massive opportunity for vendors in all
industry verticals, from infrastructure projects to I.T. projects to the vast
array of business services needed by those in the federal government.
Jun 12th, 2015
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