Hello and thank you for joining us for Episode 1 of Fun with the FAR Season 11! Our first session will cover: FAR Part 1 (Federal Acquisition Regulations System) and FAR Part 2 (Definitions of Words and Terms)! As we prepare for our 1st episode of Season 11, here are a few Episode 1 FAR Facts for us to think about:
- The FAR is issued as Chapter 1 of Title 48 of the Code of Federal Regulations (CFR).
- Contracting Officers are not required to eliminate all contract risk when executing or administering Government contracts. FAR 1.102-2(c)(2).
- The FAR is prepared, issued, and maintained by the Secretary of Defense, the Administrator of the General Services Administration, and the Administrator of NASA. FAR 1.103(b).
- Only Contracting Officers have the authority to award, modify, or terminate a Government contract. The ability to take these actions may be limited to contracts up to a certain dollar threshold (a.k.a., “warrant authority” or “appointment authority”). FAR 1.602-1.
- Contractors should NOT only rely upon FAR 2.101 when determining the definition of words included in a solicitation or contract. Definitions of words that are different from those set forth at FAR 2.101 may be set forth in the body of the solicitation or in another section of the FAR. FAR 52.202-1(a) and (c).
- The word “should” as defined in FAR 2.101 means an “expected course of action or policy” and is not considered an “imperative.” FAR 2.101.
- The current and prior versions of the FAR can be found online at acquisition.gov
We look forward to you joining us for our Episode 1 FAR Facts, Included here is the link to our Fun with the FAR program:
