48 CFR Part 432 — Contract Financing

PART 432—CONTRACT FINANCING Authority: 5 U.S.C. 301 and 40 U.S.C. 486(c). Source: 89 FR 81015, Oct. 7, 2024, unless otherwise noted. 432.001 Definitions. Agency contract finance office Head of agency. Remedy coordination official (RCO). Responsible fiscal authority 432.006 Reduction or suspension of contract payments upon finding of fraud. 432.006-5 Reporting. The annual report required by FAR 32.006-5 is to be prepared by the SPE and submitted to the Secretary within 90 calendar days after the end of the fiscal year. When signed by the Secretary, the report is to be maintained by the SPE. 432.007 Contract financing payments. The Mission Area senior contracting official may prescribe, on a case-by-case basis, a shorter period for financing payments. Subpart 432.1—Non-Commercial Item Purchase Financing 432.114 Unusual contract financing. The HCA is authorized to approve unusual contract financing. Subpart 432.2—Commercial Item Purchase Financing 432.206 Solicitation provisions and contract clauses. The responsibility for administration of the liquidation provisions of a contract may not be transferred from the contracting officer. Subpart 432.3—Loan Guarantees for Defense Production 432.301 Definitions. Within this subpart, the agency guaranteeing agency Subpart 432.4—Advance Payments for Non-Commercial Items 432.402 General. An HCA is designated as the individual responsible for making the findings and determination, and for approval of the contract terms concerning advance payments. 432.406 Letters of credit. The HCA is designated as the individual responsible for coordination with the Department of Treasury concerning letters of credit. 432.407 Interest. (a) The HCA is designated as the individual who may authorize, on a case-by-case basis, advance payments without interest for the contract types described in FAR 32.407(d)(1), through (4). The signed determination and findings supporting these authorizations shall be included in the contract files. (b) The SPE is designated as the individual who may authorize advance payments without interest other than those described in paragraph (a) of this section. 432.412 Contract clause. The decision to use Alternates I or III to FAR 52.232-12 must be supported by a determination and finding. Subpart 432.7—Contract Funding 432.703 Contract funding requirements. Use the clause AGAR 452.232-70, Limitation of Government's Obligation, in solicitations and resultant incrementally funded fixed-price contracts. 432.703-3 Contracts crossing fiscal years. Funds appropriated to USDA may be used for one-year contracts which are to be performed in two fiscal years so long as the total amount for such contracts is obligated in the year for which the funds are appropriated (7 U.S.C. 2209c). 432.770 USDA specific funding limitations. The expenditure of any USDA appropriation for any consulting service through any contract, pursuant to section 3109 of Title 5 of the U.S. Code shall be limited to those contracts where such expenditures are a matter of public record and available for public inspection, except where otherwise provided under existing law, or under existing Executive Order issued pursuant to existing law (7 U.S.C. 2225a). Subpart 432.8—Assignment of Claims 432.802 Conditions. Written notices of assignment and a true copy of the assigned instrument are to be sent to the contracting officer rather than the agency head per FAR 32.802(e)(1). Other copies are distributed as directed in FAR 32.802.

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