federal acquisition regulations

Federal Acquisition Regulations (FAR) are a set of rules and guidelines that govern how U.S. federal agencies procure goods and services. They ensure that the acquisition process is fair, transparent, and cost-effective, promoting competition among suppliers and preventing fraud. FAR outlines responsibilities, procedures, and legal requirements for both government officials and contractors, covering everything from the bidding process to contract management. Essentially, it provides a framework to ensure taxpayer money is spent wisely when the government buys products or services needed to operate effectively.