In which FAR part can you find information on contract types?

Study for the Federal Acquisition Regulation (FAR) Test. Prepare with comprehensive flashcards and multiple-choice questions, each equipped with detailed hints and explanations. Master your exam!

The information on contract types is found in FAR Part 16. This part of the FAR outlines the different types of contracts that contracting officers can use in federal procurement. It describes fixed-price contracts, cost-reimbursement contracts, time-and-materials contracts, and various hybrid contract types. Understanding these categories is essential for procurement professionals as they determine how best to structure a contract based on the nature of the work, risks involved, and funding availability.

The other parts mentioned do not focus specifically on contract types. For example, FAR Part 14 deals with sealed bidding procedures, which is a method of procurement but not the types of contracts themselves. FAR Part 18 discusses emergency acquisition flexibilities, while FAR Part 17 covers special contracting methods such as interagency acquisitions and multi-year contracts, but not contract types in general. Therefore, FAR Part 16 is the definitive source for details on the various contract types used in federal procurement.

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