When the principal purpose of the transaction is to assist, stimulate or support a non-federal party in the conduct of a public program, the federal agency must use an assistance instrument in the form of:
Answer(s): C
You want to know the difference between Federal Procurement and Federal Assistance. The distinction between them was established in law under the Federal Grant and Cooperative Agreement Act of 1977 (PL 95-224). That statute states that when the principal purpose of the transaction is to purchase something for the Federal government's own direct benefit or use, the federal agency must use a procurement contract. However, if the principal purpose of the transaction is to assist, stimulate or support a non-federal party in the conduct of a public program, the federal agency must use an assistance instrument in the form of a grant or a cooperative agreement.
Federal Procurement and Federal Assistance can both be used for solely supporting a non- federal party in the conduct of a public or private program.
Answer(s): B
is to have an acquisition system that canThe overall guiding principle ofsatisfy customer's needs yet minimize administrative overhead without sacrificing integrity, fairness, openness and public policy objectives.
Answer(s): D
The overall guiding principle of FAR is to have an acquisition system that can satisfy customer's needs yet minimize administrative overhead without sacrificing integrity, fairness, openness and public policy objectives. When a government agency issues a contract, a list of FAR provisions would be specified to apply to the contract. In order for a contractor to be awarded a contract, he must either comply with the provisions, demonstrate that he can comply with them at the time of award, and/or claim an exemption.
When a government agency issues a contract, a list of FAR provisions may be specified to apply to the contract.
Answer(s): A
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