On April 15, the President signed Executive Order (E.O.) 14275, “Restoring Common Sense to Federal Procurement,” marking the beginning of the most substantial update to the Federal Acquisition Regulation (FAR) in more than 40 years.

The FAR has grown to exceed more than 2,000 pages of regulations; consequently, guidance issued by the Office of Management and Budget stated that the Office of Federal Procurement Policy (OFPP) and the Federal Acquisition Regulatory Council (FAR Council) are leading a revolutionary overhaul to streamline the federal procurement process.

To simplify the FAR, the overhaul implementation will be conducted in two phases: (1) class deviation guidance and (2) formal rulemaking. View the complete law bulletin here for more analysis of the overhaul.