What is the dollar threshold that requires synopsis of contract actions?

• A. $10,000
• B. $25,000
• C. $50,000
• D. $100,000

Answer: (B)

The dollar threshold that requires synopsis of contract actions is $25,000. This requirement is established in the Federal Acquisition Regulation (FAR), which mandates that contracting officers must synopsize contract actions above this threshold to ensure transparency and facilitate competition in government contracting. The synopsis serves to notify potential offerors of the government's intention to procure services or goods, thereby promoting public awareness and participation in the contracting process. This threshold strikes a balance between ensuring that smaller contracts can proceed without the burden of extensive reporting while still encouraging competition and market engagement for larger expenditures.