Federal Acquisition Circular 97-01†
Federal Acquisition Circular (FAC) 97-01 amends the Federal Acquisition Regulation (FAR) as specified below:
Item I—Business Process Innovation (FAR Case 97-006)†
This final rule amends FAR 1.102-4(e) to encouragecontracting officers, in their role as members of the Governmentacquisition team, to take the lead in encouraging business processinnovations and ensuring that business decisions are sound.Replacement pages : 1-3 and 1-4.
Item II—FASA and the Walsh-Healey Public Contracts Act(FAR Case 96-601)†
The interim rule published as Item I of Federal AcquisitionCircular 90-43 is converted to a final rule without change. Therule amends the FAR to eliminate the requirement that coveredcontractors under the Walsh-Healey Public Contracts Act must beeither the manufacturer of or a regular dealer in the materials,supplies, articles, or equipment to be manufactured or used in theperformance of the contract.
Replacement pages : None.
Item III—Irrevocable Letters of Credit and Alternativesto Miller Act Bonds (FAR Case 95-301)†
The interim rule published as Item XVII of FAC 90-39 isrevised and finalized. The rule amends FAR Parts 28 and 52 toprovide for use of Irrevocable Letters of Credit as substitutesfor corporate or individual surety on Miller Act bonds, and toprovide alternatives to Miller Act payment bonds for constructioncontracts valued at $25,000 to $100,000, which are no longersubject to the Miller Act, in accordance with Section 4104(b)(1)of the Federal Acquisition Streamlining Act of 1994 (Public Law103-355).
Replacement pages : Structure (pp. v and vi), 1-3 thru 1-6, 28-1thru 28-8, 28-11 and 28-12 (28-12.1 added), 52-173 and 52-174, and52-177 thru 52-180 (52-180.1 added).