What is a "blanket purchase agreement" as per FAR?

A blanket purchase agreement, as defined by the Federal Acquisition Regulation (FAR), is an arrangement established to meet recurring requirements for supplies or services, ensuring that the agency can acquire them at pre-negotiated prices. This type of agreement is particularly useful for situations where the government anticipates a need for certain goods or services but may not know the exact quantities or timing. By using a blanket purchase agreement, agencies streamline procurement processes, reduce the administrative burden associated with placing multiple smaller orders, and can achieve cost savings through bulk pricing.

This arrangement allows for flexibility in purchasing while maintaining budget controls and ensuring that the government has a reliable source for frequently needed supplies or services. The essence of a blanket purchase agreement lies in its ability to efficiently address ongoing needs rather than addressing single, one-time purchases or expedited transactions.