Federal Register / Vol. 61, No. 120 / Thursday, June 20, 1996 / Rules and Regulations 31655

Contracting Officer, or the transferee and the

issuing financial institution, by registered

mail or other receipted means of delivery,

that we elect not to consider this

confirmation extended for any such

additional period; or

(b) The issuing financial institution shall

have exercised its right to notify you or the

transferee, the account party, and ourselves,

of its election not to extend the expiration

date of the Letter of Credit.

5. This confirmation is subject to the

Uniform Customs and Practice (UCP) for

Documentary Credits, 1983 Revision,

International Chamber of Commerce

Publication No. 400, and to the extent not

inconsistent therewith, to the laws of

lllll [state of confirming financial

institution].

6. If this confirmation expires during an

interruption of business of this financial

institution as described in Article 19 of the

UCP, we specifically agree to effect payment

if this credit is drawn against within 30

calendar days after the resumption of our

business.

Sincerely,

lllllllllllllllllllll

[Confirming financial institution]

(g) The following format shall be used by

the Contracting Officer for a sight draft to

draw on the Letter of Credit:

SIGHT DRAFT

lllllllllllllllllllll

[City, State]

llllllllll, 19lll

[Name and address of financial institution]

Pay to the order of llllllllllll

[Beneficiary Agency] lllll

the sum of United States $ llllla ll

This draft is drawn under llllllll

Irrevocable Letter of Credit No. llllll

lllllllllllllllllllll

[Beneficiary Agency]

By: llllllllll

(End of clause)

[FR Doc. 96–14532 Filed 6–19–96; 8:45 am]

BILLING CODE 6820–EP–P

48 CFR Part 31

[FAC 90–39; FAR Case 94–606; Item XVIII]

RIN 9000–AG93

Federal Acquisition Regulation; Part 31

Agency Supplements

AGENCIES: Department of Defense (DOD),

General Services Administration (GSA),

and National Aeronautics and Space

Administration (NASA).

ACTION: Final rule.

SUMMARY: The Civilian Agency

Acquisition Council and the Defense

Acquisition Regulations Council have

agreed on a final rule to amend the

Federal Acquisition Regulation (FAR) to

remove the requirement for Civilian

Agency Acquisition Council approval

for agency supplements to FAR Part 31.

This regulatory action was not subject to

Office of Management and Budget

review under Executive Order 12866,

dated September 30, 1993, and is not a

major rule under 5 U.S.C. 804.

EFFECTIVE DATE: August 19, 1996.

FOR FURTHER INFORMATION CONTACT: Mr.

Jeremy F. Olson at (202) 501–3221 in

reference to this FAR case. For general

information, contact the FAR

Secretariat, Room 4037, GS Building,

Washington, DC 20405 (202) 501–4755.

Please cite FAC 90–39, FAR case 94–

606.

SUPPLEMENTARY INFORMATION:

A. Background

The Department of Transportation

recommended that FAR 31.101 be

amended to remove the requirement for

Civilian Agency Acquisition Council

approval for agency supplements to

FAR Part 31. The change does not

amend the requirement for approval of

class deviations. Accordingly,

supplementary coverage will be

consistent with the FAR Part 31

coverage, unless a class deviation is

approved. Therefore, advance approval

of supplements is considered to be

unnecessary.

B. Regulatory Flexibility Act

The final rule does not constitute a

significant FAR revision within the

meaning of FAR 1.501 and Public Law

98–577, and publication for public

comments is not required. Therefore,

the Regulatory Flexibility Act does not

apply. However, comments from small

entities concerning the affected subpart

will be considered in accordance with 5

U.S.C. 610. Such comments must be

submitted separately and cite 5 U.S.C.

601, et seq. (FAC 90–39, FAR case 94–

606), in correspondence.

C. Paperwork Reduction Act

The Paperwork Reduction Act does

not apply because the changes to the

FAR do not impose recordkeeping or

information collection requirements, or

collections of information from offerors,

contractors, or members of the public

which require the approval of the Office

of Management and Budget under 44

U.S.C. 3501, et seq.

List of Subjects in 48 CFR Part 31

Government procurement.

Dated: June 4, 1996.

Edward C. Loeb,

Director, Federal Acquisition Policy Division.

Therefore, 48 CFR Part 31 is amended

as set forth below:

1. The authority citation for 48 CFR

Part 31 continues to read as follows:

PART 31—CONTRACT COST

PRINCIPLES AND PROCEDURES

Authority: 40 U.S.C. 486(c); 10 U.S.C.

chapter 137; and 42 U.S.C. 2473(c).

2. Section 31.101 is amended by

removing the third and fourth sentences

and replacing them with the following

text to read as follows:

31.101 Objectives.

* * * To achieve this uniformity,

individual deviations concerning cost

principles require advance approval of

the agency head or designee. Class

deviations for the civilian agencies

require advance approval of the Civilian

Agency Acquisition Council. Class

deviations for the National Aeronautics

and Space Administration require

advance approval of the Associate

Administrator for Procurement. Class

deviations for the Department of

Defense require advance approval of the

Director of Defense Procurement, Office

of the Under Secretary of Defense for

Acquisition and Technology.

[FR Doc. 96–14533 Filed 6–19–96; 8:45 am]

BILLING CODE 6820–EP–P

48 CFR Part 31

[FAC 90–39; FAR Case 93–020; Item XIX]

RIN 9000–AF99

Federal Acquisition Regulation;

Records Retention

AGENCIES: Department of Defense (DOD),

General Services Administration (GSA),

and National Aeronautics and Space

Administration (NASA).

ACTION: Final rule.

SUMMARY: The Civilian Agency

Acquisition Council and the Defense

Acquisition Regulations Council have

agreed on a final rule to amend the

Federal Acquisition Regulation (FAR) to

explicitly state that contractors must

maintain adequate cost records in order

to be reimbursed for all claimed costs.

This regulatory action was subject to

Office of Management and Budget

review under Executive Order 12866,

dated September 30, 1993. It is not a

major rule under 5 U.S.C. 804.

EFFECTIVE DATE: August 19, 1996.

FOR FURTHER INFORMATION CONTACT: Mr.

Jeremy F. Olson at (202) 501–3221 in

reference to this FAR case. For general

information, contact the FAR

Secretariat, Room 4037, GS Building,

Washington, DC 20405 (202) 501–4755.

Please cite FAC 90–39, FAR case 93–

020.