The Federal Acquisition Regulation (FAR) is a set of rules governing the procurement process for the U.S. federal government. It provides guidelines for federal agencies on how to acquire goods and services, ensuring that purchases are made fairly, transparently, and efficiently. The FAR aims to promote competition and protect the interests of taxpayers. FAR applies to all federal agencies and is essential for maintaining consistency in government contracting. It covers various aspects, including contract types, bidding procedures, and compliance requirements. By standardizing these processes, the FAR helps ensure that federal acquisitions are conducted in a manner that is accountable and responsible.