United States Government Glossary of Interagency and Associated Terms/acquisition
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| acquisition - the acquiring by contract with the appropriated funds of supplies or services (including construction) by and for the use of the Federal Government through purchase or lease, whether the supplies or services are already in existence or must be created, developed, demonstrated, and evaluated. Acquisition begins at the point when agency needs are established and includes the description of requirements to satisfy agency needs, solicitation and selection of sources, award of contracts, contract financing, contract performance, contract administration, and those technical and management functions directly related to the process of fulfilling agency needs by contract. | (SOURCE - GSA/ DOD, FAR, VOL I CH A) |
| acquisition - the process of acquiring, with appropriated funds, by contract of purchase or lease, property or services (including construction) that support the mission and goals of an executive agency, from the point at which the requirements of the executive agency are stablished in consultation with the CAO of the executive agency; and include: the process of acquiring property or services that are already in existence, or that must be created, developed, demonstrated, and evaluated; the description of requirements to satisfy agency needs; solicitation and selection of sources, award of contracts, contract performance, contract financing, management and measurement of contract performance through final delivery and payment; and technical and management functions directly related to the process of fulfilling agency requirements by contract. | (SOURCE - White House, OMB, Circular A-123) |