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Federal Acquisition Regulation
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Federal Acquisition Regulation
The
Federal Acquisition Regulation
(
FAR
) is the principal set of rules in the Federal Acquisition Regulation System. The FAR System governs the "acquisition process" by which
executive agencies
of the
United States
federal government
acquire (i.e.,
purchase
or
lease
)
goods
and
services
by
contract
with
appropriated funds
. The process consists of three phases:
Need recognition and acquisition planning;
Contract formation; and
Contract administration.
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