Acquiring by contract with appropriated funds of supplies or services (including construction) by and for the use of the federal government correct answersAcquistion
Any executive department, military department or defense agency, or other agency or independent establishment of the executive bra...
Acquiring by contract with appropriated funds of supplies or services (including construction) by and for
the use of the federal government correct answersAcquistion
Any executive department, military department or defense agency, or other agency or independent
establishment of the executive branch correct answersAgency
Notification by the government that it is entering into a contract with a private party correct
answersAward
Offer by the government to buy supplies or services, including construction and research and
development, upon specified terms and conditions, using simplified acquisition procedures correct
answersPurchase Order
Order for supplies placed against an established contract or with government sources correct
answersDelivery Order
Mutually binding legal relationship obligating the seller to furnish the supplies or services (including
construction) and the buyer to pay for them correct answersContract
Contract in which parties exchange promises to perform reciprocal obligations in the future correct
answersBilateral Contract
Expected outcome of an acquisition that, in the government's estimation, provides the greatest overall
benefit in response to the requirement correct answersBest Value
Item, other than real property, that is of a type customarily used for non-governmental purposes and
that has been sold, leased, or licensed to the general public correct answersCommercial Item
,Primary document in the federal acquisition regulations system containing uniform policies and
procedures that govern the acquisition activity of all federal agencies correct answersFederal Acquisition
Regulation (FAR)
Expresses what is mandatory or binding, and denotes the imperative correct answersShall (Must/Will)
Means an expected course of action or policy that is to be followed unless inappropriate for a particular
circumstance correct answersShould (highly encouraged)
Denotes the permissive correct answersMay (at Discretion)
Means $150,000, unless used to support a contingency operation or to facilitate defense against or
recovery from NCBR attack= 300K CONUS or 1M OCONUS correct answersSimplified Acquisition
Threshold (SAT)
Methods for making purchases that does not exceed SAT correct answersSimplified Acquisition
Procedures
Responsible for implementing laws passed by legislature correct answersExecutive Branch
Passes Laws correct answersLegislative Branch
Interprets Laws correct answersJudicial Branch
Four Sources of Federal Contract law correct answersCSAC (Constitution, Statutes, Administrative law,
Common law)
Based on sovereignty, to enter into contracts correct answersInherent Power
As necessary, for the proper performance of its duties correct answersImplied Power
, Executive Orders fall under this one of the four sources of contract law correct answersAdministrative
Law
6 Essential elements of a Contract correct answersOACELC (Offer, Acceptance, Consideration, Execution
by competent parties, Legality of purpose, Clear terms and conditions) "Only Airman Can Execute Legal
Contracts"
Legally binding promise made by one party to another to enter into a contractual agreement correct
answersOffer
Act of accepting an offer. To be binding the offer must be: Definite, Communicated, Unconditional
correct answersAcceptance
Anything of value that changes hands between the parties to a contract correct answersConsideration
Parties must, at the time of agreement, have been- of sound mind, free of the influence of drugs or
alcohol, and legal entities correct answersCompetent Parties
Purpose must be legal correct answersLegality of purpose
For a contract to be enforceable, its terms and conditions must be clear enough to permit the courts to
conclude that a contractual agreement was intended. This element is sometimes referred to as
"mutuality" or "meetings of the minds" correct answersClear Terms & Conditions
Assigned the responsibility to manage and supervise the ethics and standards of conduct programs
correct answersDesignated Agency Ethics Official (DAEO)
Conflict of interest arises when the interest of the member directly opposes the interest of the
government correct answersConflict of interest
Something that involves deliberation, decision, or action, that is focused on the interests of a specific
person, or a discrete and identifiable class of persons correct answers"Particular matter"
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