(U.S. Government contracting) The maximum dollar value below which supplies or services may be acquired using streamlined micro-purchase procedures without obtaining competitive quotations, provided the contracting officer or authorised purchaser determines the price to be reasonable. Micro-purchases are commonly made using the Government Purchase Card (P-Card). The threshold is established by the Federal Acquisition Regulation (FAR) and is subject to periodic adjustment, with different thresholds applying in certain circumstances.
Micro-Purchase Threshold
The FAR value below which supplies or services may be bought without competitive quotes if the price is reasonable, often via a purchase card.
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Related Glossary Terms
The official compilation of permanent U.S. federal laws, providing the statutory basis for many contracting requirements.
A global classification system used to categorize products and services for procurement and spend analysis.
A unique 12-character identifier assigned via SAM.gov to organizations doing business with the federal government, replacing the DUNS number.
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