48 C.F.R. PART 632—CONTRACT FINANCING
Title 48 - Federal Acquisition Regulations System
Authority: 40 U.S.C. 486(c); 22 U.S.C. 2658.
Source: 53 FR 26173, July 11, 1988, unless otherwise noted.
The Procurement Executive is the agency head for the purpose of FAR 32.006–1. [64 FR 43627, Aug. 11, 1999] Remedy coordination official means the Procurement Executive. [64 FR 43627, Aug. 11, 1999, as amended at 69 FR 19336, Apr. 13, 2004] The Procurement Executive is the agency head for the purposes of FAR 32.006–4. [64 FR 43627, Aug. 11, 1999] The Procurement Executive is the agency head for the purpose of FAR 32.114. [64 FR 43627, Aug. 11, 1999] The head of the contracting activity is the agency head for the purpose of FAR 32.201. [64 FR 43627, Aug. 11, 1999] (b) Advance payments shall be authorized sparingly. Contracting officers should consider the use of partial payments, fast payments, or more frequent payments as alternatives to advance payments. (c)(1)(iii) The authority to make the determination prescribed in FAR 32.402(c)(1)(iii) is delegated, without power of redelegation, to the head of the contracting activity (see 601.603–70). For acquisitions by overseas posts, the head of the contracting activity shall obtain the concurrence of the Procurement Executive before making a determination pursuant to this section. [53 FR 26173, July 11, 1988, as amended at 59 FR 66764, Dec. 28, 1994] (a) Total advance payments may be authorized for the items listed in FAR 32.404(a), notwithstanding their designation as a commercial item and acquisition under FAR part 12 procedures. [64 FR 43627, Aug. 11, 1999] (d) The Procurement Executive is the agency head's designee for the purposes of FAR 32.407(d). [59 FR 66764, Dec. 28, 1994] Source: 64 FR 43628, Aug. 11, 1999, unless otherwise noted.
The Department's policy is to provide full funding for all contracts, to the maximum extent practicable. FAR 32.704 and 32.705–2 provide for incremental funding of cost-reimbursement contracts. Fixed-price, labor-hour, and time-and-materials contracts for severable services may also be incrementally funded if full funding is not available at the time of contract award and the contracting officer executes a determination and findings, approved by the requirements office, justifying the need for incremental funding due to the unavailability of funds. (b) The head of the contracting activity is the agency head for the purpose of FAR 32.703–3(b). The contracting officer shall insert the clause at 652.232–72, Limitation of Funds, in incrementally funded fixed-price, labor-hour, and time-and-materials solicitations and contracts for severable services. (b) The assignment of claims shall be prohibited for all personal services contracts. The assignment of claims shall also be prohibited for all contracts awarded and performed overseas, unless approval is received from the Procurement Executive. The Directors, Regional Procurement Support Offices may approve the assignment of claims for contracts under their administration after obtaining legal consultation. [59 FR 66764, Dec. 28, 1994, as amended at 64 FR 43628, Aug. 11, 1999] (a) General. The authority to make the determination prescribed in FAR 32.906(a) is delegated, without power of redelegation, to the head of the contracting activity. Before making this determination, the head of the contracting activity shall consult with the appropriate financial office. [69 FR 19336, Apr. 13, 2004] (a) The contracting officer may insert a clause substantially the same as the clause at 652.232–70, Payment Schedule and Invoice Submission (Fixed-Price), in fixed-price type solicitations and contracts. (b) The contracting officer may insert a clause substantially the same as the clause at 652.232–71, Voucher Submission (cost-Reimbursement), in cost-reimbursement type solicitations and contracts. [59 FR 66764, Dec. 28, 1994]
Title 48: Federal Acquisition Regulations System
PART 632—CONTRACT FINANCING
Section Contents
632.006 Reduction or suspension of contract payments upon finding of fraud.
632.006-1 General.
632.006-2 Definitions.
632.006-4 Procedures.
632.114 Unusual contract financing.
632.201 Statutory authority.
632.402 General.
632.404 Exclusions.
632.407 Interest.
632.702 Policy.
632.702-70 DOS policy.
632.703 Contract funding requirements.
632.703-3 Contracts crossing fiscal years.
632.705 Contract clauses.
632.705-70 DOSAR contract clause.
632.803 Policies.
632.906 Making payments.
632.908 Contract clauses.
632.006 Reduction or suspension of contract payments upon finding of fraud.
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632.006-1 General.
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632.006-2 Definitions.
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632.006-4 Procedures.
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Subpart 632.1—Non-Commercial Item Purchase Financing
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632.114 Unusual contract financing.
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Subpart 632.2—Commercial Item Purchase Financing
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632.201 Statutory authority.
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Subpart 632.4—Advance Payments for Non-Commercial Items
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632.402 General.
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632.404 Exclusions.
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632.407 Interest.
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Subpart 632.7—Contract Funding
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632.702 Policy.
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632.702-70 DOS policy.
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632.703 Contract funding requirements.
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632.703-3 Contracts crossing fiscal years.
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632.705 Contract clauses.
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632.705-70 DOSAR contract clause.
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Subpart 632.8—Assignment of Claims
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632.803 Policies.
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Subpart 632.9—Prompt Payment
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632.906 Making payments.
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632.908 Contract clauses.
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