Federal Acquisition Regulation (FAR): Overview

Purchases made by the federal government must comply with the Federal Acquisition Regulation (FAR), which governs all federal acquisitions. There are a variety of different ways that agencies can comply with these regulations and a variety of contract types to match. Agencies are bound by certain regulations based on several factors, including:
Type of item being purchased (“item” refers to both supplies and services)
Dollar value of the purchase
Expected duration of the purchase
Types and sizes of contractors expected to compete
Agencies must choose a certain type of contract based on their requirements.
Successful contractors must have a basic understanding of the FAR and its critical elements as well as the types of contracts most often used by agencies.

Learning Objectives:
Overview of the governing laws of Federal Acquisition Regulations.
Overview of the Contracting Officer’s guidebook for solicitations, awards, contract administration and closeout.
Understanding the nuances of the contracting language.

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