FAR 16.001 Definitions
Section Federal Acquisition Regulation
Facts
- Citation
- FAR 16.001
- Type
- Section
- Last amended
- 86 FR 61017 Effective Dec 6, 2021
- Proposed changes
- 1
- Text as of
- FAC 2026-01
- Official text
- acquisition.gov
Text from acquisition.gov. Federal Register history from the Federal Register's records of the rules that amended this section.
Text
As used in this part-
Award-Fee Board means the team of individuals identified in the award-fee plan who have been designated to assist the Fee-Determining Official in making award-fee determinations.
Established price means a price that— (1) Is an established catalog or market price for a commercial product sold in substantial quantities to the general public; and (2) Is the net price after applying any standard trade discounts offered by the contractor.
Fee-Determining Official (FDO) means the designated Agency official(s) who reviews the recommendations of the Award-Fee Board in determining the amount of award fee to be earned by the contractor for each evaluation period.
Rollover of unearned award fee means the process of transferring unearned award fee, which the contractor had an opportunity to earn, from one evaluation period to a subsequent evaluation period, thus allowing the contractor an additional opportunity to earn that previously unearned award fee.
Federal Register history
Proposed changes
| Proposed rule | Published | Comments |
|---|---|---|
| Federal Acquisition Regulation: Revolutionary Federal Acquisition Regulation Overhaul Parts 16, 17, and 35 | Closed Oct 19, 2026No final rule found |
Terms defined
- Award-Fee Board
- Established price
- Fee-Determining Official (FDO)
- Rollover of unearned award fee
Quick answers
What is FAR 16.001?
FAR 16.001 is a section of the Federal Acquisition Regulation, titled "Definitions".
When was FAR 16.001 last changed?
The most recent final rule on record is "Federal Acquisition Regulation: Revision of Definition of “Commercial Item”" (86 FR 61017), published Nov 4, 2021 and effective Dec 6, 2021.
Are changes to FAR 16.001 proposed?
One proposed change has no final rule yet.
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