Glossary / Regulations, Acquisition
Federal Acquisition RegulationFAR
The Federal Acquisition Regulation (FAR) is the primary set of rules governing the federal government's acquisition process. Issued jointly by DoW, GSA, and NASA through the FAR Council, which the Administrator for Federal Procurement Policy chairs, the FAR is codified at 48 CFR Chapter 1. It is organized into 53 parts, from acquisition methods (Parts 13 to 17) to socioeconomic programs (Part 19), contract administration (Part 42), and clauses (Part 52). Agency supplements like DFARS, AFARS, and HHSAR implement and add to the FAR for specific buyers. Since 2025 the FAR Council has been rewriting the FAR (the Revolutionary FAR Overhaul): agencies use the rewritten text through class deviations while the formal rules, proposed in June 2026, are finalized, so a section number in an older source may not match a current solicitation.
Why it matters to your pipeline
Knowing your way around the FAR pays off throughout federal contracting. Many proposal and performance problems reduce to a FAR clause the contractor did not understand or implement. Knowing where key clauses live (FAR Part 52's clause library, FAR 15.3 on evaluation, FAR 31.2 on cost principles, FAR 49 on terminations) helps proposal managers, PMs, contract administrators, and executives.
When this term shows up in an opening GovSmith finds for you, your vCM explains what it means for that pursuit and does whatever it calls for. You decide; we do the work.
Example
A small business is surprised by a cost-accounting question during negotiations. A quick check of the Cost Accounting Standards rules (48 CFR 9903.201-1) shows that contracts with small businesses are exempt from CAS, resolving the concern in one meeting.
Find out what applies to you
Some terms will matter to your business right away and some won’t for years. A vCM can tell you which are which.