Competition Requirements



Competition Requirements

Introduction

. The law of contract which we are going to analyze here is actually the enforcement of promises. Every contract is not enforced by court. For the enforcement of promises, or an agreement court observe some elements. After having a check on these elements, court will prove that agreement as a contract. The contract actually involves a process of certain elements. The process starts from an offer. For the formation of the contract the offer must be accepted, unconditionally. There are certain more requirements for the offer and acceptance. After the communication of acceptance, law needs two other elements as well. One is consideration another is terms of the contract. However, in the context of the paper we intend to shed light on the issues related to Federal Contracting. It would be do0ne through different perspectives in order to develop an effective and efficient understanding of the subject.

Discussion

Answer 1

A law relating to federal contracting tends to fall under the bracket of Federal Acquisition Regulation. This acquisition regulation and its systems are issued by the Federal Government United States of America. It is called the acquisition process. Through this process government, procure goods and services from market. The process has to go through three layers. The initial process is need generation and acquisition planning. The parties format the contract and in the end phase contract is administered by the parties. The purpose of FAR is to regulate the continuous activities of the whole process. The contracts are administered and checked whether they are according to the FAR policies and laws or not Contracts usually have terms and conditions on which the contracts are based upon. The terms which are more important are called 'conditions' and the terms which are less important are called 'warranties'. Condition is those terms which are of so much importance that without them, any party would not enter into the contract (Edward, 2005). The condition is so important that the wronged party will be entitled to treat the contract as void. When warranty is concerned, then some monetary damage would be demanded and the contract would remain binding on both parties. The court looks at the term to check which of the following statements is condition or warranty because of the seriousness of the matter. But if the terms are identifies personally as condition or warranty by both parties it would not be regarded as authenticate and only court can judge the statements.

Answer 2

Numbers of procurement transactions may, in part, account for the greater number of suspension and debarment actions GSA has taken. In addition, none of these agencies, including GSA, have the specialized in house criminal fraud investigative capability that DOD has. They depend on the general vigilance of their Offices of the Inspector General for such investigations.

Unlike responsibility determinations, which involve determining a potential contractor's qualifications on a contract-by-contract basis, debarment and suspension actions involve disqualification of firms or individuals on a continuing basis from receiving all contracts issued by government ...