CONTRACTING and the FAR. Procurement and contract laws

Procurement and contract laws
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Procurement and contract laws
Federal acquisition requirements refer to the set primary laws that govern the acquisition of supplies using appropriate funds by government agencies (Kaye et al., 2017). The FAR law became applicable in April 1984 and has been effectively used by the Administration of General Services, the State Aeronautics department, the secretary of Defense with guidelines from the office of Federal and procurement Policy. However, the Federal Streamlining Act, FASA, reduced the rules and regulations and as well, the paperwork that is required before transacting with the government. The FAR set rules and regulations should be followed when procuring products and services with the government agencies with proper use of public funds (Kaye et al., 2017). The FAR rules also provide simplicity, adequate coordination, and uniformity during the transaction processes while maintaining the right image and public trust in fulfilling its set objectives.
The FAR regulations adequately protect the American people, collectively, by encouraging them to participate in distinct human and business resources. The policy achieves its mission by serving and protecting the interests of the public and lessening the general overhead on the costs of acquiring goods and services. The federal agencies are also able to purchase high-quality products, provide cost-saving technology, enjoy reduced real estate footprints, and create a more beneficial and resourceful government (Khan, 2018). The Federal Acquisition Regulation is also composed of the Federal Acquisition Service (FAS), whose function is to ensure that the federal agencies acquire products smartly. It helps in ensuring that products and services are the best value for the benefits of the government in taxes and the taxpayer too. The GSA aims at providing the best value for both the government and the American people in technology sectors, real estate, and acquisition. The Competition in Contracting Act (CICA) changed its procurement policies because they thought contractors were overcharging the government under the federal businesses. The changed laws limited the new contractors from acquiring the previous exorbitant prices that favored the contractors while exploiting the government (Khan, 2018). Also, CICA helped in eliminating preferred contractors and thus protecting the interests of the American people and promote equality. In return, the taxpayers became annoyed, and the government decided to be tactical and handled the chaos effectively. The government comprehended that non-competitive, exploitative persons were exploiting them. The latter were not considerate of the taxpayers’ money and did what deemed the best for the publics’ interests.
According to scandal re...