<Li> Contract administration . </Li> <P> The FAR System regulates the activities of government personnel in carrying out that process . </P> <P> While nearly all federal government executive agencies are required to comply with the FAR, some executive agencies are exempt (e.g., the Federal Aviation Administration and the U.S. Mint). In those cases, the agency promulgates its own specific procurement rules . The remainder of the FAR System consists mostly of sets of regulations issued by executive agencies of the federal government of the United States to supplement the FAR . </P> <P> The purpose of the FAR is to provide "uniform policies and procedures for acquisition ." It is the uniform, government - wide regulation governing executive agency procurement contracts . Among its guiding principles is to have an acquisition system that satisfies customer's needs in terms of cost, quality, and timeliness; minimize administrative operating costs; conduct business with integrity, fairness, and openness; and fulfill other public policy objectives . </P>

Who does the federal acquisition regulations apply to