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The Federal Acquisition Streamlining Act of 1994 (S. 1587; Pub. L. 103–355) is a United States law that was enacted in 1994 with the goal of lowering procurement barriers. This Act enables Simplified Acquisition Procedures where the procurement is limited, facilitates reliance of Commercial off-the-shelf (COTS) technology, and promotes the use of fixed-price Performance Based Contracting.
The law alters the United States government procurement strategy from lowest bid to best value. The Federal Acquisition Streamlining Act and the Federal Acquisition Reform Act of 1996 removed the traditional oversight mechanisms that had been in place for decades and paved the way for a new method of awarding federal government contracts. Contracts must meet 90% of their performance goals or face termination.
See also
External links
- Federal Acquisition Streamlining Act of 1994 as amended (PDF/details) in the GPO Statute Compilations collection
- Federal Acquisition Streamlining Act of 1994 as enacted (details) in the US Statutes at Large
- Department of Labor FASA
- S 1587 The Federal Acquisitions Streamlining Act Archived 2007-07-13 at the Wayback Machine
- GAO The Federal Acquisition Streamlining Act of 1994
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