The General Services Administration (GSA) this month launched a video series in which it outlines changes to the Federal Acquisition Regulation (FAR) and how these changes affect government contractors.
In the first "FAN in a Minute," the video covers changes that went into affect on October 1, 2015.
Every five years, the FAR acquisition thresholds are inflated for inflation. As of October 1, 2015, the micro purchase threshold went up (from $3,000 to $3,500), though the Simplified Acquisition Threshold remains the same ($150,000). The GSA also increased the threshold for simplified acquisition procedures for commercial items and the prime contractor subcontracting plan, excluding the prime contractor subcontracting plan for construction threshold, which remains the same. The FAR, as of October 1, 2015, made permanent its commercial items test program; clarified when exceptional circumstances are needed; and the purchase of EPEAT registered products now covers imaging equipment and televisions.
If you feel your business may benefit from these changes, please call US Federal Contractor Registration -- the world's largest third-party government registration firm -- at 877-252-2700. To view the video, go to acqusition.gov.