What is 'simplified acquisition threshold' in SAP PSM-GPR - Procurement for Public Sector?

simplified acquisition threshold - Overview

• Component: PSM-GPR

• Component Name: Procurement for Public Sector

• Description: The maximum dollar value of an acquisition that may use simplified acquisition procedures.

simplified acquisition threshold - Details

• 
  Key Concepts: 
  The simplified acquisition threshold (SAT) is a dollar amount set by the Federal Acquisition Regulation (FAR) that determines when a purchase must be made using simplified acquisition procedures. The SAT is currently set at $250,000 for most purchases. When the purchase price exceeds the SAT, more complex procurement procedures must be followed. 
  
  How to use it: 
  In SAP PSM-GPR Procurement for Public Sector, the simplified acquisition threshold is used to determine when a purchase must be made using simplified acquisition procedures. When the purchase price exceeds the SAT, more complex procurement procedures must be followed. 
  
  Tips & Tricks: 
  When making a purchase that exceeds the SAT, it is important to ensure that all of the necessary procurement procedures are followed in order to ensure compliance with the FAR. 
  
  Related Information: 
  For more information on the simplified acquisition threshold and other procurement regulations, please refer to the Federal Acquisition Regulation (FAR).