Purpose.

The purpose of this part is to prescribe simplified acquisition procedures in order to— (a) Reduce administrative costs; (b) Improve opportunities for small, small disadvantaged, women-owned, veteran-owned, HUBZone, and service-disabled veteran-owned small business concerns to obtain a fair proportion of Government contracts; (c) Promote efficiency and economy in contracting; and (d) Avoid unnecessary burdens for agencies and contractors. [62 FR 64917, Dec. 9, 1997, as amended at 70 FR 14954, Mar. 23, 2005]