48 CFR 32.502-2

32.502-2 Contract finance office clearance.

United States · 48 CFR — Federal Acquisition Regulations System · Status: effective

Cite this

Citation: 48 CFR 32.502-2, 32.502-2 Contract finance office clearance, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/240965
Permanent ID: ys:prov:240965@1
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Full text

The contracting officer shall obtain the approval of the contract finance office or other offices designated under agency procedures before taking any of the following actions: (a) Providing a progress payment rate higher than the customary rate (see 32.501-1). (b) Deviating from the progress payments terms prescribed in this part. (c) Providing progress payments to a contractor— (1) Whose financial condition is in doubt; (2) Who has had an advance payment request or loan guarantee denied for financial reasons (or approved but withdrawn or lapsed) within the previous 12 months; or (3) Who is named in the consolidated list of contractors indebted to the United States (known commonly as the Hold-up List).

Legislative history

This is a federal regulation, adopted through agency rulemaking under the Administrative Procedure Act — not enacted by a recorded vote of Congress.