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

Summary

Defines "acquisition" as the steps a government agency uses to buy or lease property or services with approved funds. It starts when the agency sets its needs with its chief acquisition officer. It covers buying or creating items, writing needs, finding and choosing suppliers, awarding and financing contracts, doing the work, tracking performance through delivery and payment, and related technical and management tasks.

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