Federal Acquisition Regulations (FAR)

Federal Acquisition Regulations (FAR) are a set of rules and guidelines that govern how the U.S. federal government acquires goods and services. Established to ensure fairness and transparency, FAR outlines the processes for procurement, including bidding, contract management, and compliance with laws. These regulations help ensure that taxpayer money is spent efficiently and responsibly, providing a standardized framework for federal agencies and contractors. Essentially, FAR helps the government buy what it needs while safeguarding public interests and promoting competition among suppliers.