The Federal Acquisition Regulation

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The Federal Acquisition Regulation (FAR) Introduction FAR is a fundamental set of principles and rules that are codified in a system. The regulations in the FAR system are conceptualized and implemented by agencies of the Federal Government in the United States. The rules govern the acquisition process, which involves the government transactions in purchasing goods and services. The acquisition process involves the formation of contracts, the need recognition and acquisition planning and also the administration of the contract. The system, however, does not interfere with the private sector dealings, and is hardly applicable in these sectors. The FAR has different parts that contain contract clauses and the manner of their administration. Termination for Default The contracting officer has to determine that the termination for default is legally proper, before issuing out a termination notice. This has been set out in a paragraph of the FAR 49.402-3(g). The termination notice has to state certain fundamental issues; the contract date and number, the omissions and act that lead to the termination of default and the rights of the contracting parties. These are just but a few. However, lack of the notice shall not render the termination of default void, unless proven by the contracting officer (Kelleher, Hurbert & Reed, 2010). A termination for default, usually, is upheld under any basis that is valid, regardless of whether the contracting officer was aware of the
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