5.404
Release of long-range acquisition estimates
Publicizing unclassified long-range acquisition estimates helps industry prepare for future opportunities and expands the pool of potential suppliers.
Overview
FAR 5.404 addresses the release of long-range acquisition estimates to the public. Its primary purpose is to help industry plan for future government needs and to identify additional sources of supply by publicizing unclassified acquisition requirements as early as possible. This proactive communication can foster competition and innovation by giving potential contractors advance notice of upcoming opportunities.
Key Rules
- Release of Long-Range Estimates
- Agencies are encouraged to publicize unclassified long-range acquisition estimates to assist industry planning and broaden the supplier base.
- Advance Publicity
- Estimates should be released as far in advance as possible to maximize industry awareness and participation.
Responsibilities
- Contracting Officers: Should consider releasing unclassified long-range acquisition estimates and ensure information is disseminated in a timely manner.
- Contractors: Should monitor these releases to identify future opportunities and plan accordingly.
- Agencies: Must ensure that only unclassified information is released and that the process aligns with agency policy and security requirements.
Practical Implications
- This section exists to promote transparency and competition in government procurement by giving industry early insight into future needs.
- Contractors benefit by being able to prepare for upcoming solicitations, while agencies may attract a broader pool of suppliers.
- Common pitfalls include releasing classified or sensitive information, or failing to provide sufficient advance notice to industry.