FAR vocab

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Author:
kanicandy244
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190922
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FAR vocab
Updated:
2013-01-01 17:07:23
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FAR Definitions of words and terms
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  1. A-76 PROCUREMENTS
    Acquisitions implementing OMB (office of Mgnt & Budget) Circular A-76, as modified, which implements the Executive Branch's general policy to rely upon private enterprise for commercially available goods and services.
  2. A-E
    Architect-Engineer
  3. ACCELERATED PROCEDURE
    Procedure under the Contract Disputes Act whereby an appellant before an agency board of contract appeals can elect, for certain small claims, to have a decision issued on a claim within 6 mos after making the election.
  4. ACO
    Administrative Contracting Officer (responsible for contract administration) 
  5. ACQUISITION PLAN
    A plan for managing the overall strategy for a proposed acquisition. 
  6. ADR
    Alternative Dispute Resolution
  7. ADMINISTRATION CHANGE
    A contract alternation that does not affect the substantive rights of the parties. 
  8. ADMINISTRATIVE CONTRACTING OFFICER
    The contracting officer that administers a particular contract. 
  9. ADVANCE PAYMENT
    Monetary advance made by the government to a contractor prior to, but in anticipation of, contract performance. 
  10. ALLOCABLE COST
    A cost that is assignable of chargeable to one or more cost objectives in accordance with the relative benefits received other equitable relationship.
  11. ALLOWABLE COST
    • Any cost that can be included in prices, cost reimbursements, or settlements under the contract to which it is allocable.
    • ( to be allowable, a cost must meet 5 basic requirement:) 
  12. TO BE ALLOWABLE, 5 BASIC REQUIREMENTS:
    • The cost is:
    • 1) Reasonable
    • 2) Allocable (to the contract)
    • 3) Treatment of the cost is in accordance w/the Cost Accounting Standards
    • Pg XXXIV
  13. ALTERNATIVE DISPUTE RESOLUTION
    A procedure used instead of litigation to resolve a dispute, including mini-trial, settlement judge, mediation, or arbitration, or combinations thereof. 
  14. APPEAL NOTICE
    Notice to a board of contract appeals that a Contracting Officer's final decision is being appealed. 
  15. ARMED SERVICES PROCUREMENT ACT
    General federal statute that governs contracting by the Department of Defense and its military services. 
  16. ASBCA
    ARMED SERVICES BOARD OF CONTRACT APPEALS
  17. AUDIT
    determining the existence of recorded assets and inclusiveness of recorded liabilities

    Pg XXXV
  18. BAA
    • BUY AMERICAN ACT
    • Federal law that carries out the government's preference for the use of American-made materials and the purchase of domestically-manufactured goods by requiring that acquisitions for public use be for materials, supplies, or articles substantially composed of domestic products. 
  19. BCA
    Board of Contract Appeals Decisions
  20. BID BOND
    A surety bond that indemnifies the government against a winning bidder's failure to execute the contract documents and proceed with performance (called a Bid Guarantee). 
  21. BID PROTEST
    • A written objection by an interested party to any of the following: 
    • Pg XXXVI
  22. BPA 
    • Blanket Purchase Agreement
    • A simplified purchasing method used by agencies to fill anticipated repetitive needs for supplies or services by establishing charge accounts w/qualified sources. 
  23. BOARDS OF CONTRACT APPEALS
    Judicial-type administrative boards established by the various government procuring agencies to hear and decide government contract disputes.

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