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Essay example - Buy American Act for Government Contracts
Finance & Accounting
Pages 3 (753 words)
BUY AMERICAN ACT FOR GOVERNMENT CONTRACTS Summary of the main points The Buy American Act is a legislation that was designed to aid the ARRA provisions by establishing more strict conditions over imports to be used in construction of public utility facilities…
Extract of sample
The provisions of the Buy American Act therefore ensure that materials for use in developing public facilities are product of the United States. The particularly designated materials under the act’s control are iron, steel, and their products. If a construction material is a product of foreign raw materials then it only qualifies for application in developing public facilities if at least fifty percent of its raw materials are domestic (Ncsl, 2009). The act however grants leaf for application of such ‘non-domestic’ materials, in the specified category, under three conditions. The first condition is if the material is not domestically produced in either desirable quality or quantity. Leaf is also granted in cases where application of domestic products under the category would inflate costs by more at least 25 percent. A leaf is similarly granted for use of ‘non-domestic’ materials if application of domestic materials would be contrary to the interest of the American people. A contract under such waiver is however supposed to be reported in an official and written form. BAA regulations however exempt some countries, countries with trade ties to the United States. These countries enjoy the benefits as though their products were manufactured in the United States (Ncsl, 2009). ...
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