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This rule will create standard governmentwide policies addressing the effective use of reverse auctions. Reverse auctions are a tool used by Federal agencies to obtain competitive prices for an acquisition. Reverse auctions differ from traditional auctions in that sellers compete against one another to provide the lowest price or highest-value offer to a buyer. This rule will incorporate guidance from the Office of Federal Procurement Policy memorandum, Effective Use of Reverse Auctions,” which was issued in response to recommendations from the Government Accountability Office (GAO) report, Reverse Auctions: Guidance is Needed to Maximize Competition and Achieve Cost Savings” (GAO-14-108).