Summarize the main points of Federal Acqusition Rregulation

Summarize the main points of Federal Acqusition Rregulation (FAR) 22.101-1

Solution

The Federal Acquisition Regulation (FAR), which had its beginnings in the Armed Services Procurement Regulation established in 1947, is a substantial and complex set of rules governing the federal government’s purchasing process.

Its purpose is to ensure purchasing procedures are standard, consistent, and conducted in a fair and impartial manner.

The process has 3 phases:

FAR Acquisition methods:

FAR: Social - Economic Obligations