Government Acquisition Contract Requirements

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Government Acquisition Contract Requirements Government contracts vary greatly from typical business or commercial contracts in several areas. There are various requirements within the federal contract that are required by the government such as how to manage changes within the scope of the work. How a contract ends or is terminated. Lastly, managing payments and buying patterns for different types of contracts. Acquisition Planning A federal contracting officer is assigned the task of working with the contractor or business entity. The amount of the bid should encourage competition and consider satisfying the demands that are best for the government (Acquisition.gov, 2008). The process of procurement is highly regulated and has its own set of guidelines referred as to the Federal Acquisition Regulation or FAR. FAR refers to the process of purchasing products or services in a government contract. The rules are designed to ensure fair and standard treatment with impartiality to parties submitting a contract for federal acquisition (Acquisition.gov, 2008). Regardless of the size of the business, the number of previous successful bids accepted, or the experience of the contractor. However, it is important to understand the provisions involved in FAR to avoid costly mistakes. The authorizing agencies of FAR requirements are the Department of Defense, National Aeronautics and Space Administration, and Government Services Administration (Acquisition.gov, 2008). The
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