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Federal Acquisition Regulations Overhaul
The FAR overhaul known as “FAR 2.0” has begun. Authorized by Presidential Executive Order, the undertaking allows agencies to immediately remove non-critical requirements. Non statutory requirements may be shifted over to strategic guidance “buying guides.” Businesses participating in the federal marketplace should be aware of changes to the FAR as these may impact your costs, compliance, and risk level. Watch for updates and review the updated FAR and agency adoption via deviations here. Each section includes a "practitioner album" that shows the sections of the FAR that have been removed. For example, Far Part 10 for Market Research no longer instructs agencies to use market research to determine whether an acquisition should be set aside for small businesses or other socio-economic groups. However, FAR 19 that outlines the rules for SBA small business programs and subcontracting plans remains untouched for now.
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