48 CFR Part 932 — Contract Financing

PART 932—CONTRACT FINANCING Authority: 42 U.S.C. 7101 et seq. et seq. Source: 49 FR 12011, Mar. 28, 1984, unless otherwise noted. 932.006 Reduction or suspension of contract payments upon finding of fraud. 932.006-4 Procedures. (a) The remedy coordination official shall follow the procedures identified in 48 CFR 32.006-4. (b) [Reserved] [63 FR 5273, Feb. 2, 1998, as amended at 75 FR 29459, May 26, 2010] Subpart 932.1—Non-Commercial Item Purchase Financing 932.102 Description of contract financing methods. (e)(2) Progress payments based on a percentage or stage of completion may be authorized by the Head of the Contracting Activity when a determination is made that progress payments based on costs cannot be practically employed and that there are adequate safeguards provided for the administration of progress payments based on a percentage or stage of completion. [61 FR 41708, Aug. 9, 1996] Subpart 932.3—Loan Guarantees for Defense Production 932.304 Procedures. 932.304-2 Certificate of eligibility. (h) Guaranteed loan applications shall be authorized and transmitted to the Federal Reserve Bank only by the Secretary or designee specified for that purpose. Subpart 932.4—Advance Payments for Non-Commercial Items 932.402 General. (e)(1) The Head of the Contracting Activity or designee shall have the responsibility and authority for making findings and determinations, and for approval of contract terms concerning advance payments. (2) Before authorizing any advance payment arrangements, the approving official shall obtain the advice, and other inputs of the servicing finance office. 932.407 Interest. (d)(4) Advance payments may be made without interest under cost-reimbursement contracts for construction or engineering services. Subpart 932.5—Progress Payments Based on Costs 932.501 General 932.501-2 Unusual progress payments. (a)(3) For DOE, the Head of the Contracting Activity shall forward all requests which are considered favorable, with supporting information, to the DOE Senior Procurement Executive, who, after coordination with the Chief Financial Officer, Headquarters, will approve or deny the request. For NNSA, the NNSA Senior Procurement Executive will coordinate with the NNSA Chief Financial Officer before approving or denying the request. (d) Requests for unusual progress payments will not be considered as a handicap or adverse factor in the award of a contract; provided the bid or proposal is not conditioned on approval of such request. [49 FR 12011, Mar. 28, 1984, as amended at 59 FR 9106, Feb. 25, 1994; 75 FR 29458, May 26, 2010] Subpart 932.6—Contract Debts 932.602 Responsibilities. The Department of Energy (DOE) contracting officer has primary responsibility for determining the amount of contract debt and notifying the cognizant finance office of such debt due the Government. The servicing DOE finance office making payments under the contract has primary responsibility for debt collection. [49 FR 12011, Mar. 28, 1984, as amended at 74 FR 36367, July 22, 2009. Redesignated and amended at 75 FR 29458, May 26, 2010] Subpart 932.8—Assignment of Claims 932.803 Policies. (d) In the case of prime contracts, when it has been determined that the financing of contracts will be facilitated in the interest of DOE programs, it is the policy of DOE that such contracts provide, or be amended without consideration (see Assignment of Claims Act of 1940) to provide, in conformance with 48 CFR 32.804, that payments to be made to an assignee shall not be subject to reduction or setoff. In the case of subcontracts, when loans are made for the purpose of financing performance of subcontracts under DOE prime contracts, financing institutions or the Government as guarantor in those instances in which such loans are guaranteed should not be required to incur risks of loss by reason of possible diversion of assigned subcontracts proceeds for payment of other claims of the prime contractor against the borrower, otherwise unrelated to the assigned subcontracts. The Head of the Contracting Activity shall require the adoption of these policies and practices by DOE prime contractors with respect to DOE subcontract work. The Head of the Contracting Activity should inform the Chief Financial Officer, Headquarters of each DOE contractor who is unwilling to adopt policies consistent with this paragraph and the reasons given in support of the contractor's position. [49 FR 12011, Mar. 28, 1984, as amended at 59 FR 9106, Feb. 25, 1994; 75 FR 29459, May 26, 2010] Subpart 932.9—Prompt Payment 932.970 Implementing DOE policies and procedures. (a) Invoice payments Contract settlement date. (2) Constructive acceptance periods. (b) Accelerated payments to limit contractor working capital requirements. [61 FR 41708, Aug. 9, 1996, as amended at 89 FR 89758, Nov. 13, 2024] 932.971 Electronic submission of invoices/vouchers. In general, Contracting Officers should insert the clause at 952.232-7, Electronic Submission of Invoices/Vouchers, in contracts. However, after consultation with the Office of the Chief Financial Officer, the Contracting Officer may approve alternate methods of submission. [89 FR 89758, Nov. 13, 2024]

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