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The Office of Federal Procurement Policy Launches Landmark Update to FAR, Ushering in a New Era for Commercial Buying
The Office of Management and Budget Office of Federal Procurement Policy (OFPP) has announced a new action as part of the Revolutionary FAR Overhaul. Under this action, agencies are authorized to immediately begin eliminating one-third of requirements from their future contracts that are not required by statute or executive orders and have little to do with contract outcomes.” OMB believes this action will allow agencies to leverage commercially available solutions, including innovations from small businesses. As part of the announcement, OFPP is directing agencies to use government-wide contracts for commercial products and services, including “best-in-class” and “preferred” contracts instead of maintaining their own contracts.