The federal acquisition regulation, commonly abbreviated FAR, is the principal set of rules regarding the procurement of items and products in the United States. This particular series of laws is found under the United States code, under the Code of Federal Regulations, at Chapterone and title 48. There are many people that have different ways of explaining it so let me tell you that you are certainly welcome to explain it any way you want. For purposes of this assignment you are to assume that the purpose of FAR is to establish and codify and then publish a series of uniform policies and procedures for acquisition by all executive agencies.

FAR applies to the department of defense, GSA, and the national aeronautics association just to name a few and, the purpose is to set regulations for the acquisition and servicing of executive agencies in acquiring goods and services. It is complex and it can be confusing. What I would like you to do is to read through it. Come up with your own working version of this law. You don't have to read the whole law, rather, I am asking you to take a look at chapter 1, section 48, especially looking at 50, 51 and 52.

What I would like you to do is look at the law, and summarize the law in a working document that you can use. Use any format you want, bullet points, essays, or examples, and submit a minimum 4 to 6 page paper