The Federal Acquisition Regulatory (FAR) Council has released the second version of its FAR Companion, a non-regulatory guide designed to make federal procurement more efficient and grounded in practical decision-making.
The FAR Companion was first introduced as part of the Revolutionary FAR Overhaul, an initiative aimed at cutting unnecessary red tape in federal acquisition. Unlike the FAR itself, which contains binding regulations, the FAR Companion serves as a centralized reference of best practices—helping contracting officers and acquisition professionals apply sound business judgment in their daily work.
This new version includes guidance aligned with all FAR parts, providing acquisition professionals with context, examples, and practical advice for planning, awarding, managing, and closing out contracts. It also introduces a beta version of the Category Management Buying Guide.
Under Executive Order 14275 and OMB Memorandum M-25-26, the FAR Council has been tasked with restoring “common sense” to the federal buying process. This ongoing effort is expected to eliminate more than 1,000 non-statutory or outdated mandates from the FAR—reducing administrative burden and empowering procurement officials to use professional discretion rather than rigid compliance.
Click here to view the 2nd version of the FAr Companion.
(AI was used in part to facilitate this article.)