Federal Acquisitions Regulation (FAR)

The Federal Acquisition Regulation (FAR) is a set of rules and guidelines used by the U.S. government to manage how it purchases goods and services from private companies. It ensures that acquisitions are fair, open, and transparent, promoting competition and value for taxpayers. FAR covers everything from starting the procurement process to awarding contracts and managing their execution, providing consistency and accountability across federal agencies. Essentially, it acts as a comprehensive manual to govern government contracting activities in a structured and ethical manner.