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Impact of Supplementary Federal Acquisition Regulations

Hello. I have a question that I have been thinking about regarding the Federal Acquisition Regulation (FAR). Specifically, how it applies to federal organizations that are not required to follow it in its entirety, and are not bound by it, such as FDIC and others. Yet, I'm sure they still follow the Federal Acquisition Regulation to some degree but probably use an internal SOP or internal policies that govern their procurement activities. Still, here's the question I would like to get a response to.

What are the Advantages (i.e. Benefits) and Disadvantages (Costs) of a Federal/Government Agency not solely bound by the FAR to still have an Agency FAR Supplement (i.e. similar to DFARS, etc...) that implements/supplements the Federal Acquisition Regulation for their agency?



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Advantages of FAR Supplement: Federal Government Agency that is not solely bound by the FAR still has Agency FAR Supplements that implements Federal Acquisition Regulation for their agency has the following advantages. The agency has guiding principles in its acquisition system that satisfies its goals and objectives. The FAR Supplement guides employees in situations where the policy of the agency is not immediately clear. The FAR Supplement also helps companies reinforce and acquaint new employees with its purchase polices. The FAR Supplement helps create a purchase climate of uniformity and excellence. The agency adapts a FAR Supplement to make sure that the acquisition system satisfies agency's needs in terms ...

Solution Summary

The answer to this problem explains federal acquisition regulation. The references related to the answer are also included. Almost 400 words.