Federal Acquisition Streamlining Act(FASA)
A 1994 law that simplified federal procurement by raising thresholds, reducing paperwork, and promoting commercial item acquisition.
Overview
The Federal Acquisition Streamlining Act (FASA) of 1994 overhauled federal procurement to reduce administrative burden, increase use of commercial products, and streamline small purchases. It raised micro-purchase and simplified acquisition thresholds and encouraged electronic commerce.
Why It Matters in GovCon
FASA shaped modern procurement by making smaller buys faster and encouraging agencies to buy commercial items. Understanding FASA helps contractors know when simplified procedures apply versus full competitive requirements.
Key Details
- Simplified Acquisition Threshold: Raised to allow streamlined procedures for purchases below a designated dollar amount.
- Commercial Items: FASA promoted acquisition of commercial products and services.
- Electronic Commerce: Paved the way for systems like GSA Advantage and SAM.gov.
- Small Business: Included provisions to expand small business participation.
Related Terms
- Simplified Acquisition
- Federal Acquisition Regulation (FAR)
- Commercial Item
- Micro-Purchase
More Acquisition Terms
A payment method where the government transfers funds electronically to contractor bank accounts.
The predecessor to SAM.gov; the legacy system where federal solicitations were posted (replaced by beta.SAM.gov).
A formal review gate in the acquisition process where senior leadership decides whether a program may proceed to the next phase, requires changes, or should be terminated.
Written narrative responses that describe a candidate or contractor capability in specific areas, historically used in federal hiring and some proposal evaluations.
Goods and services used to maintain, repair, and operate facilities and equipment — a major category of government procurement.
A non-binding agreement between parties that outlines intentions, roles, and expectations for collaboration or coordination.
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