How To Do Business With Treasury Part I: Regulations Governing Department of the Treasury Acquisition

Most Treasury acquisition activities are governed by the "Federal Acquisition Regulation" (FAR). (The U.S. Mint is exempt.) The FAR is codified as Chapter 1 of Title 48, Code of Federal Regulations and consists of procurement policies and many detailed procedural and administrative requirements that apply to all procurements by Federal executive agencies.

The FAR has more than 1,000 pages and is divided into 53 parts (equivalent to chapters), each part dealing with a separate aspect of procurement. The first six parts deal with general government contracting matters and the next six parts deal with aspects of acquisition planning. Part 13 contains simplified procedures for contracts of $150,000 or less, while Parts 14 and 15 deal with procurement procedures for larger contracts. Other parts deal with such matters as labor laws, contract administration, standard clauses, and forms.

Any firm wishing to do business with the Federal Government should have access to the FAR. A copy may be purchased from the Superintendent of Documents, U.S. Government Printing Office, Washington, DC 20402, telephone (202) 512-1800. The FAR is also available for review at major public libraries, or via the World Wide Web from the Acquisition Reform Network.