The paper "A Contractor's Introduction to the Federal Acquisition System" is a wonderful example of an annotated bibliography on business. The project seeks to establish the significance of the Federal Acquisition Regulation (FAR). The role of FAR is essentially based on governing the acquisition process crucial phases are involved when acquiring service or good. This includes the need for recognition, contract formation, and acquisition planning. The requirements cover billing rates, pricing, and final overhead rates. The project also seeks to analyses the requirement applying to the government contracts and their significance.
Crucial and credible sources will be annotated to help in explaining the role of FAR and the significance of the requirements. Annotated BibliographyCurry, W. S. (2016). Government Contracting. doi: 10.4324/9781315536453The journal provides insight into the significance of the set requirements of Federal Acquisition Regulation (FAR). The FAR policies embrace uniformity in setting procedures and policies used for acquisitions. The FAR mandate is also maintained by the DOD (Department of Defense), National Aeronautics and Space Administration, and the General Services Administration. Curry, also analyses the procedures the government uses to secure contracts.
It creates a public participation forum which helps in creating inclusivity. Additionally, the journal analyzed the various rates that would affect the decision-making process. The edition of 2016 follows current Federal Acquisition Circulars, interior rules, corrections, and fine rules. Various updates have been done, they include, electronic product environmental assessment tool, inflation adjustments, the prohibition on contracting using the inverted domestic corporations and justification of non-competitive urgent awards. The article offers details on the significance and roles that FAR facilitates. Quander, A. Y., & Wappert, J. N. (2010).
Analysis of Alpha Contracting from Three Perspectives: Government Contracting, the Government Program Office, and Industry. doi: 10.21236/ada531488The journal offers credible information regarding the role of FAR. The coverage allows the creation of connection details of the negotiations and the set rates. According to Quander and Wappert, pricing agreement is put forward by the government; therefore, the negotiated agreement is handled by an ACO (administrative contracting officer). Equally, the use of the platform has seen the operations of DOD (Department of Defense) to focus on the technical and management proposals. Additionally, using the Alpha contracting perspective helps the government can bargain effectively. The source also highlights the life cycle of putting forward rates.
Arguably, this sheds light on the way the rates are determined and their impact during contract negotiation. The article further expounds on the way the valuation, development, and acceptance process are conducted when seeking pricing rates and expose the recent changes regarding policies that affect negotiations at the agency level. Procedures are outlined in the overhead rate, pricing, and billing rates comply with government regulations. Government contracts usually are expected to follow the FAR principles, TINA (Truth in Negotiations Act, and (Cost Accounting Standard (CAS).
FAR also facilitates the creation of data collecting system that guarantees the contracts fulfil all the requirements and help in allocating costs. CAS also explains the details of the contract to the contractors regarding the different types of costs. The pricing data must be current and complete. The article touches on the forward pricing rates which help in negotiations and act as a basis of observing the proposals submitted. The overhead rates capture the overhead expenses which include the insurance costs that are provided to fulfil certain expectations.
Equally, the article explains the forward pricing rates which indicate the cost of allocation cycle. Since they affect the budget, all parties connected to the contract negotiations and evaluate their terms. Sullivan, A. J. (2005). A Contractor's Introduction to the Federal Acquisition System. doi: 10.21236/ada458749The publication explains the mandate of FAR. The regulations set touches on the performance standards that are intended to satisfy the terms of the client in the instance of time, quality, and costs of delivering good or services.
A system set by the FAR utilizes the information provided to fulfil public policy targets and minimize operations costs that could be incurred by the administration. Further, the publication outlines the roles and the acquisition time that helps the government in making decisions. The state set principles that guide the activities as it indicates the way a contracting officer evaluates the rates and ensure there is compliance with the policies, rules, and regulations set for specific contracts. Responsibility is overridden by the FAR team as the procurement procedures and process seta strategy in conducting negotiations.
All the contractors are often treated fairly and the information is at the discretion of the government. The article displays the significance of the regular system that is used ad applied to all executive agencies. Its establishment was to conduct codification in a uniform procedure and policies that are applied in contracting and negotiations. Government contracts are important as it throws resources mostly from the taxpayers. This way, the management and utilization of the resources require the application of FAR to observe the evaluation of the different rates before signing a contract or adapt business proposals.
This way, the role of the acquisition team intervene by exercising intervenes that meet the exceptions of the clients. Yoder, E. C. (2006). Getting the Most from Acquisition Reforms: FAR 13.5 Test Provisions for Simplified Acquisition Procedures, Commercial-item Acquisition. doi: 10.21236/ada496662The journal provides simplified acquisition procedures. The government, however, facilitates the acquisition of services or products to people who are only authorized. This means those granted permission to follow the procedures set, the acquired services, and supplies are granted authority.
According to the Yoder, FAR provisions are significant as it helps in eliminating administrative costs the government often incurs. The services and products provided are improved given the elaboration of the various rates. This way, the mandate of the FAR is to promote economy and efficiency through the contract and eliminate burdens for the contractors and agencies. This is also elaborated in the journal on the quotations meaning. The clarification also ensures the government assurance in instances of negotiating contracts and supplies quotation is done within the confines of the law.
FAR in other scenarios may make an exception in dealing with the contracts. This is guided by following the principle of contracting only was the interests of the government are prioritized. Ideally, a contract must not go beyond the acquisition threshold set. The laws also guide any individual to seek petition, for example, Office of Federal Procurement Policy (OFPP) to add applicable provisions of the laws regarding the contract. The source also outlined the procedure of contracting the officer using the FAR system. Quotations offered by the public are also evaluated following the way solicitation process works.
ConclusionIt is apparent that the FAR provision helps in explaining the roles of the rates in government contracts. The outlined procedure provides a clear framework when allocating contracts. Ideally, the rates help in implementing the mandate of the government in ensuring suppliers and services are credible and meet the required standards. FAR necessities also interpret the roles of the negotiations initiated when evaluating the proposals offered.