The Federal Acquisition Regulation (FAR)

The Federal Acquisition Regulation (FAR) is a set of rules governing how the U.S. government buys goods and services. It outlines policies and procedures that federal agencies must follow when procuring contracts, ensuring fair competition, transparency, and accountability. The goal of FAR is to achieve best value for taxpayers while promoting integrity and efficiency in government contracting. It covers everything from how contracts are solicited and awarded to how they are managed and enforced. Essentially, FAR provides a framework for responsible government spending and effective management of taxpayer resources.