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                            32.007 Contract financing payments.
        
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FAC Number: 2024-03 Effective Date: 02/23/2024
PartPart 1Part 2Part 3Part 4Part 5Part 6Part 7Part 8Part 9Part 10Part 11Part 12Part 13Part 14Part 15Part 16Part 17Part 18Part 19Part 20Part 21Part 22Part 23Part 24Part 25Part 26Part 27Part 28Part 29Part 30Part 31Part 32Part 33Part 34Part 35Part 36Part 37Part 38Part 39Part 40Part 41Part 42Part 43Part 44Part 45Part 46Part 47Part 48Part 49Part 50Part 51Part 52Part 53
Subpart32.032.132.232.332.432.532.632.732.832.932.1032.11
Section32.00032.00132.00232.00332.00432.00532.00632.00732.00832.009
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32.007 Contract financing payments.32.007 Contract financing payments.       (a)                                                         (1) 								                Unless otherwise prescribed in agency policies and procedures or otherwise specified in paragraph (b) of this section, the due date for making contract financing payments by the designated payment office is the 30 thday after the designated billing office receives a proper contract financing request.                                                            (2) 								                If an audit or other review of a specific financing request is required to ensure compliance with the terms and conditions of the contract, the designated payment office is not compelled to make payment by the specified due date.                                                            (3) 								                Agency heads may prescribe shorter periods for payment based on contract pricing or administrative considerations. For example, a shorter period may be justified by an agency if the nature and extent of contract financing arrangements are integrated with agency contract pricing policies.                                                            (4) 								                Agency heads must not prescribe a period shorter than 7 days or longer than 30 days.                                                                             (b) 						            For advance payments, loans, or other arrangements that do not involve recurrent submission of contract financing requests, the designated payment office will make payment in accordance with the applicable contract financing terms or as directed by the contracting officer.                                          (c) 						            A proper contract financing request must comply with the terms and conditions specified by the contract. The contractor must correct any defects in requests submitted in the manner specified in the contract or as directed by the contracting officer.                                          (d) 						            The designated billing office and designated payment office must annotate each contract financing request with the date their respective offices received the request.                                          (e) 						            The Government will not pay an interest penalty to the contractor as a result of delayed contract financing payments.    **Parent topic:**  Part 32 - Contract Financing
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