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6.10 Federal Acquisition Regulation (FAR)

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6.10 Federal Acquisition Regulation (FAR)

The FAR is the set of rules governing the federal government's purchasing process, it is jointly issued by DoD, GSA, and NASA and applies to most agencies in the Executive Branch. A few of the exceptions include agencies which use the DoD: Defense Federal Acquisition Regulations Supplement (DFARS) or the Navy Marine Corps Acquisition Regulation Supplement (NMCARS) or exempt agencies such as the USPS and FDIC. (Federal Deposit Insurance Corporation. Introduction to the Federal Acquisition Regulation (FAR).) The FAR includes 53 parts which each address a component of the acquisition process, the first twelve parts address general government acquisition matters and acquisition planning, while the remaining parts include other topics such as contracts, contracting, labor laws, taxes, and small businesses. (Federal Acquisition Regulation (FAR). FY 2019.) Of note, information technology is Part 39 of the FAR. Overall, the FAR defines the process for sealed bidding, competitive negotiation, cost principles contracts, social-economic obligations, commercial items acquisitions, as well as relevant terms and conditions.

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