What are the laws and regulations for government contracting?

Government contracting in South Dakota is regulated by both state and federal law. The purpose of these laws and regulations is to ensure that the government procures goods and services in an honest, competitive, and transparent manner. At the federal level, the Office of Federal Procurement Policy Act (41 U.S.C. § 405) requires agencies to use competitive bidding and evaluate offers in accordance with the government’s best interests. The Federal Acquisition Regulation (FAR) requires contractors to maintain records that demonstrate compliance with applicable laws and regulations and to properly account for the costs of goods and services. At the state level, South Dakota’s Small Business Procurement Program requires state agencies to purchase products or services from small businesses certified by the state Department of Revenue. In addition, South Dakota Revised Code § 4-12-39.1 establishes standards for small business set-aside contracts and requires state agencies to procure goods and services from small businesses whenever small businesses can meet the agencies’ needs. Finally, other state laws require state agencies to bid out contracts for goods and services over a certain cost threshold and to select the lowest responsible bidder. In summary, South Dakota has a number of laws and regulations in place to ensure that the government procures goods and services in an honest, competitive, and transparent manner. These laws and regulations are designed to ensure that small businesses are given the opportunity to participate in government contracts, and that state agencies are able to select the lowest responsible bidder for contracts.

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What are the laws and regulations for government contracting?

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