Hunton Retail Law Resource

Last week, the Office of Federal Procurement Policy (OFPP) and the Federal Acquisition Regulatory Council (FAR Council) released three new proposed deviations in their overhaul of the Federal Acquisition Regulation (FAR).

We recently wrote about the Trump administration’s efforts to streamline the Federal Acquisition Regulation (“FAR”).  The FAR contains approximately 2,000 pages of regulations that guide hundreds of billions of dollars in acquisitions each year.

The 2,000 page Federal Acquisition Regulation (the “FAR”) has guided and dictated federal procurement for more than forty years.  Periodically, the FAR has been updated to make procurement more efficient and simpler. The Trump administration is now undertaking its own effort with the rollout of an executive order entitled “Restoring Common Sense to Federal Procurement.”  It goes without saying that significant changes to the FAR will impact how federal contractors and their subcontractors do business with the federal government.