What regulation governs the procedures for federal government procurement?

The Federal Acquisition Regulation (FAR) is the primary set of rules and guidelines that govern the procurement process for federal government agencies in the United States. This extensive body of regulations outlines the policies and procedures applicable to federal contracts, ensuring that acquisition processes are conducted in a consistent, fair, and transparent manner.

The FAR provides a comprehensive framework covering different aspects of acquisition, including competition requirements, contract types, source selection procedures, and ethical considerations, among others. Its goal is to promote the acquisition of goods and services by federal agencies efficiently and effectively while maintaining accountability and adherence to federal laws.

While the other options mention various aspects of procurement or compliance, they do not provide the comprehensive regulatory framework necessary for federal procurement practices that the FAR does. Particularly, Government Purchase Guidelines and Contractor Compliance Standard are not recognized regulations that guide federal acquisition processes, and the Public Contracts Act primarily focuses on specific contracting obligations rather than the overall procurement procedures. Therefore, the FAR is the correct answer as it is the foundation of procurement regulation for the federal government.