Definitions
FAR 4.601 defines essential terms for contract reporting, ensuring accurate and consistent data entry into the Federal Procurement Data System (FPDS).
Overview
FAR 4.601 provides definitions for key terms used in Subpart 4.6, which governs contract reporting requirements for federal acquisitions. This section clarifies the scope of what constitutes a contract action, the reporting obligations through the Contract Action Report (CAR), and distinctions between contract types relevant to the Federal Procurement Data System (FPDS). It also defines terms such as entitlement program, generic entity identifier, and indefinite delivery vehicle (IDV), ensuring consistent understanding and application of reporting rules across agencies and contractors.
Key Rules
- Contract Action
- Includes any purchase, rent, or lease of supplies, equipment, services, or construction above the micro-purchase threshold, and modifications to these actions, but excludes grants, cooperative agreements, and other non-FAR transactions.
- Contract Action Report (CAR)
- Requires reporting of contract action data into FPDS for applicable transactions.
- Definitive Contract and IDV
- Distinguishes between definitive contracts and indefinite delivery vehicles for FPDS reporting purposes.
- Other Key Definitions
- Clarifies terms like entitlement program and generic entity identifier to support accurate reporting and compliance.
Responsibilities
- Contracting Officers: Must accurately identify and report contract actions and types in FPDS using the correct definitions.
- Contractors: Should understand which actions are reportable and the implications for contract administration.
- Agencies: Ensure oversight and compliance with reporting requirements and proper use of defined terms.
Practical Implications
- This section ensures all parties use consistent terminology for contract reporting, reducing errors and misreporting in FPDS.
- Misunderstanding these definitions can lead to compliance issues, inaccurate data, and potential audit findings.