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                            2432.703-1   General.
        
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HUDARPart Number: 2432
        
                  

                                
                  
        HUD Acquisition Regulation
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2432.703-1 General.       (b)          (1)  			Except as described herein, a fixed-price contract may be funded incrementally only if -          (i) Sufficient funds are not available to the Department at the time of contract award or exercise of option to fully fund the contract or option; and          (ii) The contract (excluding any options) or any exercised option -          (A) Is for severable services; and          (B) Does not exceed one year in length; and          (C) Is incrementally funded using funds available (unexpired) as of the date the funds are obligated; and          (iii) If applicable, the contract uses funds available from multiple (2 or more) fiscal years and Congress has otherwise authorized incremental funding.          (2) An incrementally funded fixed-price contract shall be fully funded as soon as funds are available.    **Parent topic:**  Subpart 2432.7 - Contract Funding
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