How many statutory authorities allow contracting without full and open competition?

The correct answer indicates that there are seven statutory authorities that permit contracting without full and open competition. These authorities are defined under the Federal Acquisition Regulation (FAR) and provide specific circumstances under which an agency may bypass the usual requirement to conduct a competitive bidding process.

Understanding these authorities is crucial for federal contracting professionals because they define the legal framework that governs when competition can be limited. Examples of such authorities include situations involving urgent requirements, unique supplies or services available from only one source, and contracts with certain small businesses, among others. Each of these statutory authorities helps agencies respond swiftly and effectively to various needs while still maintaining a level of oversight and control over taxpayer spending.

In reviewing the landscape of contracting and competition, it's important to know the statutory references and under which scenarios they apply. This knowledge enables contract managers and decision-makers to navigate the complexities of federal procurement and ensures compliance with the established laws and regulations.