What is the current micro-purchase threshold?
The micro-purchase threshold (MPT) is $10,000 (FAR case 2018-004 published on July 2, 2020, at 85 FR 40064).
When did simplified acquisition threshold change?
Background: The Fiscal Year 2017 and Fiscal Year 2018 National Defense Authorization Acts (NDAA) made statutory changes to the Micro-Purchase Threshold and Simplified Acquisition Threshold for federal financial assistance agreements.
What is a federally controlled facility?
(1) Federally-owned buildings or leased space, whether for single or multi-tenant occupancy, and its grounds and approaches, all or any portion of which is under the jurisdiction, custody or control of a department or agency; (2) Federally-controlled commercial space shared with non-government tenants.
What is a commercial item under the far?
A: According to Part 2 of the Federal Acquisition Regulation (FAR), a commercial item is any product or service that is customarily used by the general public or nongovernmental entities for nongovernmental purposes.
How does the Far define construction?
Construction means construction, alteration, or repair (including dredging, excavating, and painting) of buildings, structures, or other real property.
What is a simplified method of filling anticipated repetitive needs?
(a) A blanket purchase agreement (BPA) is a simplified method of filling anticipated repetitive needs for supplies or services by establishing “charge accounts” with qualified sources of supply (see subpart 16.7 for additional coverage of agreements).
What is the standard acquisition threshold 2020?
SUMMARY: Notwithstanding the Federal Acquisition Regulation finalization that increases the micro-purchase threshold for supplies from $3,500 to $10,000 and the simplified acquisition threshold from $150,000 to $250,000, existing purchase card limits are not raised.
What is 48 CFR 2 101?
48 CFR § 2.101 – Definitions. 2.101 Definitions. (a) A word or a term, defined in this section, has the same meaning throughout this regulation ( 48 CFR chapter 1 ), unless – (1) The context in which the word or term is used clearly requires a different meaning; or
What does 4848 CFR 2 101 mean?
48 CFR 2.101 – Definitions. F.o.b. destination means free on board at destination; i.e., the seller or consignor delivers the goods on seller’s or consignor’s conveyance at destination. Unless the contract provides otherwise, the seller or consignor is responsible for the cost of shipping and risk of loss.
What does another part of the far mean?
(2) Another FAR part, subpart, or section provides a different definition for the particular part or portion of the part. (b) If a word or term that is defined in this section is defined differently in another part, subpart, or section of this regulation ( 48 CFR chapter 1 ), the definition in –
What does technical data mean under 484 CFR?
48 CFR 2.101 – Definitions. Technical data means recorded information (regardless of the form or method of the recording) of a scientific or technical nature (including computer databases and computer software documentation). This term does not include computer software or financial, administrative, cost or pricing,…