[Code of Federal Regulations]

[Title 48, Volume 1]

[Revised as of October 1, 2005]

From the U.S. Government Printing Office via GPO Access

[CITE: 48CFR1.102-1]



[Page 6]

 

            TITLE 48--FEDERAL ACQUISITION REGULATIONS SYSTEM

 

                CHAPTER 1--FEDERAL ACQUISITION REGULATION

 

PART 1_FEDERAL ACQUISITION REGULATIONS SYSTEM--Table of Contents

 

                Subpart 1.1_Purpose, Authority, Issuance

 

Sec. 1.102-1  Discussion.



    (a) Introduction. The statement of Guiding Principles for the 

Federal Acquisition System (System) represents a concise statement 

designed to be user-friendly for all participants in Government 

acquisition. The following discussion of the principles is provided in 

order to illuminate the meaning of the terms and phrases used. The 

framework for the System includes the Guiding Principles for the System 

and the supporting policies and procedures in the FAR.

    (b) Vision. All participants in the System are responsible for 

making acquisition decisions that deliver the best value product or 

service to the customer. Best value must be viewed from a broad 

perspective and is achieved by balancing the many competing interests in 

the System. The result is a system which works better and costs less.



[60 FR 34733, July 3, 1995]