FAR Compliance is NOT OPTIONAL

Most of the people involved in government contracting today never experienced a pre-Federal Acquisition Regulation (FAR) world, and are clearly better off with the FAR system in place. The FAR brings order and simplicity to government contracting, and procurement without structure would be chaos. Ho...

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Bibliographic Details
Published in:Contract management 2017-03, Vol.57 (3), p.36
Main Author: Nichols, J Scott
Format: Magazinearticle
Language:English
Subjects:
Compliance
Contract management
Federal government
Government purchasing
Subcontractors
Online Access:Get full text
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Summary:Most of the people involved in government contracting today never experienced a pre-Federal Acquisition Regulation (FAR) world, and are clearly better off with the FAR system in place. The FAR brings order and simplicity to government contracting, and procurement without structure would be chaos. However, despite the many benefits the FAR brings to the contracting world, it is still challenging to fully understand and to comply with. Companies that do business with the federal government must comply with all applicable provisions of the FAR. There are many factors that drive the various requirements identified in a specific FAR clause or provision: 1. contract type, 2. applicability, 3. dollar threshold (both for the prime and subcontractor), 4. subcontractor flowdowns, and 5. frequency. Contract professionals, regardless of their level of competency, need a tool to help them better understand the intent of the FAR clauses/provisions they are working with, all the while tracking the company's performance obligations and compliance with the applicable FAR requirements-regardless of contract type, dollar threshold, or frequency.
ISSN:0190-3063