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                            32.502-2 Contract finance office clearance.
        
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FAC Number: 2024-03 Effective Date: 02/23/2024
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Subpart32.032.132.232.332.432.532.632.732.832.932.1032.11
Section32.50032.50132.50232.50332.504
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32.502-2 Contract finance office clearance.32.502-2 Contract finance office clearance.       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	                Who has had an advance payment request or loan guarantee denied for financial reasons (or approved but withdrawn or lapsed) within the previous 12 months; or                                                            (3) 								                Who is named in the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").    **Parent topic:**  32.502 Preaward matters.
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