DOD, GSA, and NASA have issued a Small Entity Compliance Guide summarizing changes to the Federal Acquisition Regulation (FAR) as per Federal Acquisition Circular (FAC) 2021-03. These changes include rules about violations of arms control treaties, criteria for using the lowest price technically acceptable (LPTA) source selection process, and the type of assets individual sureties must pledge. Additionally, it includes various technical amendments across multiple regulations. The guide helps small businesses understand how these changes might impact them.
Simple Explanation
DOD, GSA, and NASA made some new rules to help small businesses understand how to do business with the government better, which include guidelines on how to choose the right price for things, and what kind of promises people need to make if they want to be a guarantor.