What amount must a contracting officer synopsize contract actions exceeding?

What amount must a contracting officer synopsize contract actions exceeding?

• A. $10,000
• B. $20,000
• C. $25,000
• D. $30,000

Answer: (C)

A contracting officer must synopsize contract actions that exceed $25,000 to ensure transparency and competition in the procurement process. This requirement is in alignment with the Federal Acquisition Regulation (FAR), which mandates that agencies provide adequate notice of planned contract actions to interested parties. By synopsizing actions above this threshold, the government enhances the visibility of contracting opportunities, allowing small businesses and other entities to compete for federal contracts. This practice ultimately promotes fair competition and the effective use of taxpayer dollars while fostering an inclusive environment for all suppliers. The specified threshold of $25,000 is significant as it establishes a clear delineation for when public announcement and solicitation of bids become necessary, thus reflecting best practices in procurement.

A contracting officer must synopsize contract actions that exceed $25,000 to ensure transparency and competition in the procurement process. This requirement is in alignment with the Federal Acquisition Regulation (FAR), which mandates that agencies provide adequate notice of planned contract actions to interested parties. By synopsizing actions above this threshold, the government enhances the visibility of contracting opportunities, allowing small businesses and other entities to compete for federal contracts. This practice ultimately promotes fair competition and the effective use of taxpayer dollars while fostering an inclusive environment for all suppliers. The specified threshold of $25,000 is significant as it establishes a clear delineation for when public announcement and solicitation of bids become necessary, thus reflecting best practices in procurement.