The Federal Acquisition Regulation (FAR) contains the uniform policies and procedures for acquisitions by the U.S. Government. The FAR represents an effort to create a uniform framework for contracting with agencies of the Executive Branch.

Recently, the FAR was amended with a Final Rule that will require contractors to meet specific ethics and compliance-oriented requirements, including:

1. a written contractor code of business ethics and conduct; and
2. the display of Fraud Hotline Posters as required by the agency Office of the Inspector General (OIG).

The requirements become effective on December 24, 2007, and are triggered by government contracts meeting certain thresholds. These new requirements apply to contractors that receive any contract award "expected to exceed" $5 million with a performance period of 120 days or more. The new rules do have limited exceptions for small businesses, commercial item contracts and contracts performed entirely outside the U.S.