GOVERNMENT CONTRACTS
Government agencies require businesses to comply with a large number of regulations in order to qualify for a contract. Federal, state, and local governments all incorporate regulations into their contracts that are intended to implement public policy as well as control the cost and the quality of the actual products delivered. The federal government, for instance, integrates a set of regulations known as Federal Acquisition Regulations (FARs) into their contracts. The imposition of federal regulations can significantly increase the scope of the contract terms and is the cause of excessive prices for government-purchased products. Consider the following example: The “Table of HR Policies” is an example of the regulations ...
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