What are FAR and DFARS clauses? Why are they important? How can you manage and utilize them. Let's explore advanced FAR/DFARS clause oversight and control with CobbleStone Software's contract management software.
What are FAR and DFARS Clauses?
Specific rules and regulations dictate government contracting, and both contractors and the government must adhere to them. These rules are outlined in the Federal Acquisition Regulation (FAR) and the Defense Federal Acquisition Regulation Supplement (DFARS).
The FAR is a set of guidelines established by the federal government to govern the acquisition process for goods and services. It gives a uniform framework for federal agencies to follow when procuring goods and services from contractors. More specifically, DFARS is a supplement to the FAR that uniquely applies to Department of Defense (DoD) contracts.
The Importance of FAR and DFARS Clauses
FAR and DFARS clauses are critical for both contractors and the government as they promote fair and transparent procurement processes. These clauses:
- outline the rights and obligations of both parties.
- establish guidelines for pricing, delivery, and quality control.
- and address various other aspects of the contract.
By incorporating FAR and DFAR clauses into contracts, the government seeks to promote competition, prevent fraud, and protect the interests of taxpayers. For contractors, understanding and complying with these clauses is crucial for successfully navigating the government contracting landscape and avoiding potential legal and financial risks.
Advanced FAR & DFAR Clause Oversight & Control
If you need to access and include FAR & DFARS clauses and provisions for contract and procurement processes for federal agencies, say no more. It's quick and easy with this helpful feature from CobbleStone Contract Insight Enterprise Version 22.2.0!
The data aggregator service provides a comprehensive view of available FAR and DFARS clauses at a glance, allowing you to search, select, and monitor thousands of FAR/DFARS clauses.
For monitored clauses, you can choose to send email notifications to assigned users when a clause is updated, delete the clause, or refresh the clause in both the data aggregator service area and your mergeable clause library.
For maximum centralization and consistency, these FAR and DFARS clauses can be included in your clause library and can also be included when building mergeable clauses.
Simply go to the document you are managing, edit it with CobbleStone's native document editor, and select "Add Clause" within the CobbleStone Ribbon.
Just like that, you can search your clause library for the FAR and DFARS clauses you need. In this case, let's insert the Market Research clause from the list of our monitored FAR/DFARS clauses.
FAR and DFARS Clauses & More with CobbleStone!
The FAR and DFARS clause functionality mentioned above is merely a scratch at the surface of all of the transformative functionality that your team can leverage to succeed in digital contract management and eProcurement procedures.
Are you considering CobbleStone Software? Book your free demo today! Would you rather simply try CobbleStone out for yourself? Enjoy a free trial of CobbleStone Software today.
If you are an existing client, get started with CobbleStone's new features to immerse yourself in all that CobbleStone offers for contract lifecycle management success! Contact your Account Rep today to see CobbleStone Contract Insight's enhanced functionality for yourself and review licensing options.
