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FAC Number: 2024-05
Effective Date: 05/22/2024

32.000 Scope of part.

32.000 Scope of part.

This part prescribes policies and procedures for contract financing and other payment matters. This part addresses-

(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.

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