48 CFR 32.000 – Scope of part
This part prescribes policies and procedures for contract financing and other payment matters. This part addresses—
Terms Used In 48 CFR 32.000
- Contract: A legal written agreement that becomes binding when signed.
- Electronic funds transfer: The transfer of money between accounts by consumer electronic systems-such as automated teller machines (ATMs) and electronic payment of bills-rather than by check or cash. (Wire transfers, checks, drafts, and paper instruments do not fall into this category.) Source: OCC
(a) Payment methods, including partial payments and progress payments based on percentage or stage of completion;
(b) Loan guarantees, advance payments, and progress payments based on costs;
(c) Administration of debts to the Government arising out of contracts;
(d) Contract funding, including the use of contract clauses limiting costs or funds;
(e) Assignment of claims to aid in private financing;
(f) Selected payment clauses;
(g) Financing of purchases of commercial products and commercial services;
(h) Performance-based payments; and
(i) Electronic funds transfer payments.