FAR is the primary regulation for use by all federal Executive Branch agencies in their acquisition of supplies and services with appropriated funds. FAR became effective on April 1, 1984, and was issued under applicable laws under the joint authorities of the General Services Administration (GSA), the Department of Defense (DOD) and the National Aeronautics and Space Administration (NASA), under the broad policy guidelines of the Office of Federal Procurement Policy in the Office of Management and Budget.

FAR precludes agency acquisition regulations that unnecessarily repeat, paraphrase, or otherwise restate the FAR. It limits agency acquisition regulations to those that are necessary to follow FAR policies and procedures in an agency, and provides for coordination, simplicity, and uniformity in the federal acquisition process. It also provides for agency and public participation in developing FAR and agency acquisition regulations.