What is a characteristic of contracts acquired under FAR Part 14?

Contracts acquired under FAR Part 14 are characterized by their involvement in sealed bidding procedures. This regulatory framework is specifically designed for the competitive acquisition of supplies and services where the government seeks to obtain goods or services at the best price while ensuring fairness and transparency in the procurement process.

Sealed bidding involves the submission of bids by suppliers in a sealed envelope, which ensures confidentiality until the bids are opened publicly. This process allows contracting officers to evaluate the bids based on predetermined criteria, typically focusing on price and compliance with the solicitation requirements. The use of sealed bids helps to promote competition and achieve favorable pricing for the government.

The other options do not accurately reflect the characteristics defined under FAR Part 14. Contracts acquired under this part are not limited to only commercial items, they do not have to be negotiated, and while the bids are often evaluated based on price, they are not restricted solely to the lowest price; rather, they must meet the technical specifications and requirements as outlined in the solicitation.