§131 — Title 41 Public Contracts | U.S. Code

Summary

Acquisition means the steps an executive agency uses to buy or lease property or services with appropriated funds to support its mission. It begins when the agency’s needs are set in consultation with the agency’s chief acquisition officer. It includes buying things that already exist or making new ones, describing what is needed, asking for and choosing sources, awarding and funding contracts, carrying out contracts, managing and measuring contract performance through final delivery and payment, and related technical and management work.

Title 41, §131

Public Contracts — Source: USLM XML via OLRC

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.

Historical and Revision Notes

Revised SectionSource (U.S. Code)Source (Statutes at Large) 13141:403(16).Pub. L. 93–400, § 4(16), as added Pub. L. 108–136, title XIV, § 1411, Nov. 24, 2003, 117 Stat. 1663.

§131 Acquisition

Summary

Title 41, §131

Notes & Related Subsidiaries

Historical and Revision Notes

Citations & Metadata