Federal Acquisitions Streamlining Act
- Federal Acquisitions Streamlining Act
The Federal Acquisitions Streamlining Act is a United States law that was enacted in 1994 with the goal of lowering procurement barriers. This Act enables simplified procurement procedures where the procurement is limited, facilitates reliance of Commercial Off the Shelf technology, and promotes the use of fixed price performance based contracting. The law alters procurement strategy from lowest bid to best value.
Contracts must meet 90% of their performance goals or face termination.
External links
* [http://www.dol.gov/oasam/regs/statutes/fasa1.htm Department of Labor FASA]
* [http://thomas.loc.gov/cgi-bin/query/z?c103:S1587.ENR: S 1587 The Federal Acquisitions Streamlining Act]
* [http://www.gao.gov/decisions/other/302499.pdf GAO The Federal Acquisition Streamlining Act of 1994]
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