New acquisition rules set to go into effect

Thursday - 3/8/2012, 12:40pm EST

Joseph Petrillo, attorney, Petrillo and Powell

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Federal buying procedures are about to get an update. After a couple of years of deliberation, the Federal Acquisition Regulation Council has finalized three rules that go into effect on April 2.

The rules limit how agencies can use cost reimbursement contracts, try to increase competition and boost federal awards to women-owned businesses.

"The three rules are actually the finalization of interim rules that have been around since March or April of last year," said Joseph Petrillo, attorney with Petrillo and Powell in Washington, D.C. "All three rules have their ultimate origin in acts by Congress that were trying to adjust the procurement system."

Petrillo joined The Federal Drive with Tom Temin Thursday to discuss these rules and how they affect how your agency buys.