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Funding federal contracts for goods and services

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What is the bona fide needs rule, explain its applicability to funding federal contracts for goods and services, and discuss how the bona fide needs rule and independent government cost estimates can work together in helping an agency reconcile its budget. Can you give a potential example of the rule in use/practice. Thanks

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The expert examines funding federal contracts for goods and services. The response addresses the query posted in 445 words with APA References.

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The response addresses the query posted in 445 words with APA References

//The section presented below has critically discussed the bona fide needs rule, and its applicability to fund the federal contracts for goods and services. It also discusses the way in which the bona fide needs rule, and independent government cost estimates can work together in helping an agency reconciling its budget.//

Bona fide needs rule is one of the fundamental principles of the appropriations law. An appropriation is defined for a particular period of duration that is for a fiscal year, and the bona fide is valid for that particular course of time (Jensen, 2006). This rule has a ...

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Ashish Sharma, MBA (IP)
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  • MBA (IP), International Center for Internationa Business
  • BBA, University of Rajasthan
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