Subpart 5.3
Synopses of Contract Awards
FAR Subpart 5.3 requires agencies to publicly announce contract awards to ensure transparency and promote competition in federal procurement.
Overview
FAR Subpart 5.3, "Synopses of Contract Awards," establishes the requirements for publicizing contract award information. Its primary purpose is to ensure transparency in federal procurement by requiring agencies to announce contract awards through synopses and public announcements. This subpart outlines when and how contract award information must be prepared, transmitted, and made available to the public, including specific procedures for preparing synopses and making official announcements. It supports the broader goal of promoting competition and public trust in government contracting by making award information accessible and timely.
Key Rules
- General Requirements (5.301)
- Agencies must publicize contract awards to foster transparency and competition.
- Preparation and Transmittal (5.302)
- Contracting officers are responsible for preparing and transmitting synopses of contract awards in accordance with prescribed procedures and timelines.
- Announcement of Awards (5.303)
- Certain contract awards, especially those of significant value or interest, require formal public announcement, often coordinated with agency public affairs offices.
Responsibilities
- Contracting Officers: Must prepare, transmit, and announce contract award synopses as required, ensuring accuracy and timeliness.
- Contractors: Should be aware that award information will be made public and ensure any proprietary or sensitive information is properly marked.
- Agencies: Oversee compliance with publicizing requirements and coordinate with public affairs for major announcements.
Practical Implications
- This subpart ensures the public and industry are informed about federal contract awards, supporting fair competition and accountability.
- Failure to comply can result in protests, reputational damage, or audit findings.
- Contractors should anticipate public disclosure of award details and plan accordingly, especially regarding sensitive information.