Federal Acquisition Regulation

The Federal Acquisition Regulation (usually referred to as the FAR or F.A.R.), are a series of regulations issued by the Federal government of the United States that concern the requirements of contractors for selling to the government, the terms under which the government obtains ownership, title and control of the goods or services purchased, and rules on specifications, payments and conduct and actions regarding solicitation of proposals or bids and payment of invoices.
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FEDERAL ACQUISITION REGULATION (FAR) - The body of regulations which is the primary source of authority governing the Government procurement process. The FAR, which is published as Chapter 1 of Title 48 of the Code of Federal Regulations, is prepared, issued, and maintained by under the joint auspices of the Secretary of Defense, the Administrator of General Services, and the Administrator of the National Aeronautics and Space Administration. Actual responsibility for maintenance and revision of the FAR is vested jointly in the Defense Acquisition Regulatory Council (DARC) and the Civilian Agency Acquisition Council. The FAR provisions are implemented and augmented by the various agency supplements, and are subject to interpretation by the entities such as the Federal courts, the Armed Services Board of Contract Appeals, the General Services Board of Contract Appeals and others.