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41 U.S.C. § 131 - U.S. Code - Unannotated Title 41. Public Contracts § 131. Acquisition

Current as of January 01, 2024 | Updated by Findlaw Staff

In division B, the term “acquisition”--

(1) means the process of acquiring, with appropriated amounts, by contract for purchase or lease, property or services (including construction) that support the missions and goals of an executive agency, from the point at which the requirements of the executive agency are established in consultation with the chief acquisition officer of the executive agency; and

(2) includes--

(A) the process of acquiring property or services that are already in existence, or that must be created, developed, demonstrated, and evaluated;

(B) the description of requirements to satisfy agency needs;

(C) solicitation and selection of sources;

(D) award of contracts;

(E) contract performance;

(F) contract financing;

(G) management and measurement of contract performance through final delivery and payment; and

(H) technical and management functions directly related to the process of fulfilling agency requirements by contract.

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Cite this article: FindLaw.com - 41 U.S.C. § 131 - U.S. Code - Unannotated Title 41. Public Contracts § 131. Acquisition - last updated January 01, 2024 | https://codes.findlaw.com/us/title-41-public-contracts/41-usc-sect-131/

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