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This is Session 5 of the Foundations of the FAR webinar series. 

This session of the Foundations of the FAR program will cover Parts 12 and 16 of the Federal Acquisition Regulation.  Presenter Steven Tomanelli will cover the acquisition of commercial items (Part 12) and discuss the use of commercial item as preference by the government.

Mr. Tomanelli will also discuss Types of Contracts (Part 16) - Fixed-Price; Cost-Reimbursement; Incentive; Indefinite-Delivery; Time and Materials, Labor-Hour, and Letter Contracts; and Agreements.

Part 12

This part prescribes policies and procedures unique to the acquisition of commercial items. It implements the Federal Government’s preference for the acquisition of commercial items contained in 41 U.S.C. 1906, 1907, and 3307 and 10 U.S.C. 2375-2377 by establishing acquisition policies more closely resembling those of the commercial marketplace and encouraging the acquisition of commercial items and components.

Part 16

This part describes types of contracts that may be used in acquisitions. It prescribes policies and procedures and provides guidance for selecting a contract type appropriate to the circumstances of the acquisition.