United States Federal Acquisition Regulation (FAR)

The United States Federal Acquisition Regulation (FAR) is a comprehensive set of rules and guidelines established to govern how the federal government purchases goods and services. It ensures the process is fair, transparent, and competitive, promoting efficient use of taxpayer funds. FAR covers procedures for soliciting bids, awarding contracts, and managing payments, setting standards to prevent corruption and promote integrity in government procurement. Essentially, it functions as the federal government's official blueprint for acquiring everything from office supplies to complex military equipment, ensuring consistency and accountability across all federal agencies involved in procurement activities.