Overview#Federal Acquisition Regulation (FAR) is the principal set of rules in the Federal Acquisition Regulations System regarding government procurement in the United States federal government, and is codified at Chapter 1 of Title 48 of the Code of Federal Regulations, 48 CFR 1.
Federal Acquisition Regulation governs the "acquisition process" by which United States Executive Branch 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.
While nearly all federal government executive agencies are required to comply with the FAR, some executive agencies are exempt (e.g., the Federal Aviation Administration and the U.S. Mint. In those cases, the agency promulgates its own specific procurement rules.
The remainder of the FAR System consists mostly of sets of regulations issued by executive agencies of the federal government of the United States to supplement the FAR.