What are the Rules and Regulations of US Government Contracting?

Introduction: There is a common say about the US Government contracting, that federal contract is comparatively hard – there are so many rules and regulations which have made it tough than others. And, if anyone fails to follow those rules/regulations, the government shall immediately turn them down.

There are two most important laws one should be aware of while planning for US Government contracting –

1. FAR (Federal Acquisition Regulations) and

2. FASA (Federal Acquisition Streamlining Act). However, there are numerous other laws that have an impact on government contracting that you should also keep in mind.

These above rules and regulations can dictate how one can starts business with the Federal Government.

There are few authorized agents, through them the federal government conducts its business. These agents are known as contracting officers as mentioned below – 

  • The Procurement Contracting Officer (referred to as the "PCO") – they are responsible to produce contracts and deal with termination process of contracts if there is any contract defaulter.  
  • The Administrative Contracting Officer (referred to as the "ACO") – responsible to supervise the administrating part of the contracts.
  • The Termination Contracting Officer (referred to as the "TCO") – handles the cases related to contract terminations.  

Let’s focus on the recent laws. The Federal Acquisition Streamlining Act of 1994 (FASA) came up with as a revolutionary body and throws its impact on the federal acquisition process. It cancelled or significantly changed more than 225 bills and had led the contracting process towards the 21st century. Among many other rules and regulations, the FASA system has made the federal procurement process more simplified by reducing paperwork burdens, also manual acquisition process in to completely electronic commerce.

Before the full-fledged implementation of FASA, the Federal Acquisition Reform Act of 1996 (FARA) passed in order to correct some insufficiency in the previous legislation and to make other changes.

Conclusion: Introducing the above laws were significant as they brought lots of changes in the way the federal government conducting business. These systems are continuously making further adjustments and opening up newest opportunities in US Government contracting.

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