Federal Acquisition Regulation (FAR)

The Federal Acquisition Regulation (FAR) is a set of rules governing how the U.S. government acquires goods and services. It ensures that procurement processes are fair, transparent, and efficient, providing guidelines for federal agencies and contractors. FAR covers everything from how contracts are formed to compliance requirements, aiming to promote competition and protect public interests. Essentially, it establishes the framework for the government’s purchasing activities, helping to ensure taxpayer money is spent wisely and ethically.