Federal Acquisition Reform Act (FARA)

The Federal Acquisition Reform Act (FARA) is legislation aimed at improving how the U.S. government purchases goods and services. It strives to make the process more efficient, transparent, and flexible, reducing bureaucracy and fostering competition among contractors. By updating and streamlining procurement rules, FARA helps ensure government acquisitions are cost-effective, fair, and better suited to meet agency needs. Essentially, it reforms federal acquisition policies to improve how the government buys things, benefiting taxpayers and promoting better relationships with suppliers.