Federal Acquisition Regulation Law and Legal Definition
Federal Acquisition Regulation (“FAR”) is a set of principles that govern the government procurement process. It regulates purchasing of goods and services by government. It does not regulate the purchasing activities of private sector, except to the extent of it is incorporated into government solicitations and contracts by reference. The FAR is codified in Title 48 of the U.S. Code of Federal Regulations. It is prepared, issued, and maintained jointly by the Secretary of Defense, the Administrator of General Services, and the Administrator of the National Aeronautics and Space Administration subject to the approval of the Administrator of Federal Procurement Policy. Generally all government agencies are required to comply with FAR. Some agencies such as, U.S. Postal Service, Tennessee Valley Authority, Federal Aviation Administration and Bonneville Power Administration are exempt from FAR and they promulgate their own specific procurement rules. The FAR provisions are subject to interpretation by the entities such as the Federal courts, the Armed Services Board of Contract Appeals and the General Services Board of Contract.
Legal Definition list
Related Legal Terms
- 2257 Regulations
- Accompanying the Federal Government Outside the United States
- Acquisition
- Acquisition and Cross-Servicing Agreement
- Acquisition and Improvement Loan [Veterans' Relief]
- Acquisition Assistance [Transportation]
- Acquisition Cost of an Item of Purchased Equipment
- Acquisition Cost of Equipment [Education]
- Acquisition Credit
- Acquisition Debt
