What are the two basic methods or institutions for obtaining the "full and open competition" established by the Federal Acquisition Regulation (FAR)?
A) equitable adjustment and the US Court of Federal Claims
B) sealed bidding and competitive negotiation
C) Federal Property and Administrative Services Act and the Office of Procurement Policy
D) sealed offer and competitive offer
E) closed bidding and open bidding

Question

What are the two basic methods or institutions for obtaining the "full and open competition" established by the Federal Acquisition Regulation (FAR)? 
A) equitable adjustment and the US Court of Federal Claims
B) sealed bidding and competitive negotiation
C) Federal Property and Administrative Services Act and the Office of Procurement Policy
D) sealed offer and competitive offer
E) closed bidding and open bidding

Quizplus · Accepted Answer

The two basic methods or institutions for obtaining "full and open competition" established by the Federal Acquisition Regulation (FAR) are sealed bidding and competitive negotiation. Sealed bidding is used when the requirements can be clearly defined, and the award can be made solely on price. Competitive negotiation, on the other hand, is used when the requirements cannot be clearly defined, and negotiations are necessary to determine the best value solution.

What Are the Two Basic Methods or Institutions for Obtaining