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The FAR applies to companies with U.S. federal contracts or subcontracts for goods and services (other than commercial off-the-shelf items) to be acquired outside the U.S. with an estimated value of more than $500,000 USD. These companies must ensure they and their subcontractors maintain a compliance plan during the performance of the contract and submit annual certifications regarding implementation of the plan and associated due diligence activities. A compliance plan is not required for companies with contracts under $500,000 USD. However, these companies must still maintain a due diligence program to assess and mitigate risks, and to ensure no human trafficking and slavery is occurring in the supply chain.
Learn more about the risks forced labor poses to businesses in our ebook, Human Trafficking, Slavery Your Supply Chain.
Download eBookAssent’s Human Rights Solution helps companies comply with the Federal Acquisition Regulation. Some features of the module include: