Source: https://cao.gov/diar/diar-part-1432%E2%80%94contract-financing
Timestamp: 2020-05-29 00:59:02
Document Index: 510703177

Matched Legal Cases: ['art 1432', 'art 1432', 'ART 1432', 'ART 1432', 'art 1432', 'art 1432', 'art 1432', 'art 1432', 'art 1432', 'art 1432']

DIAR Part 1432—Contract Financing | Acquisition.GOV
HomeDIAR Part 1432—Contract Financing
DIAR PART 1432—CONTRACT FINANCING
PART 1432—CONTRACT FINANCING
Subpart 1432.1—Non-Commercial Item Purchase Financing
Subpart 1432.3—Loan Guarantees for Defense Production
Subpart 1432.4—Advance Payments for Non-Commercial Items
Subpart 1432.5—Progress Payments Based on Costs
Subpart 1432.6—Contract Debts
Subpart 1432.9—Prompt Payment
1432.304 Procedures. 1432.304-2 Certificate of eligibility.
1432.402 General. 1432.407 Interest.
1432.501 General. 1432.501-2 Unusual progress payments. 1432.502-2 Contract finance office clearance.
1432.602 Responsibilities. 1432.610 Compromising debts.
Guaranteed loan applications shall be authorized and transmitted to the Federal Reserve Board by the AS/PMB, in accordance with FAR
32.304–2(h).
The HCA may authorize advance payments without interest pursuant to FAR
32.407.
The CO shall obtain the advance approval of the HCA, or designee, before providing a progress payment rate higher than the customary rates as defined in FAR
32.501–1. Advance approval to provide progress payment rates higher than the customary rates shall not be delegated lower than the CCO.
The CO shall obtain approval of the bureau finance office prior to taking actions listed in FAR
32.502–2.
344 DM contains policy, standards, and guidelines for collection of debts within DOI. Each bureau and office is responsible for developing an internal debt collection system and prescribing internal procedures for collection of debts, including debts covered under FAR Subpart
The CO may recommend compromise of contractor actions pursuant to FAR
32.610, but shall consult 344 DM and SOL for further action.
The CO may modify the timing of payment specified in paragraph (a)(1)(i) and (ii) of the clause FAR
52.232–26, Prompt Payment for Fixed-Price Architect-Engineer Contracts, and/or paragraph (a)(1)(i) and (ii) of the clause at FAR
52.232–27, Prompt Payment for Construction Contracts, as appropriate, to provide for a period shorter than 30 days (but not less than 7 days) for making contract financing payments based on geographical site location, workload, contractor ability to submit a proper request for payment, or other factors. When considering a modification to these FAR standard(s), the CO should alert the finance and program officials involved in the payment process to ensure that such shorter contract payment terms to be specified in the solicitation and resulting contract will be met. A CO determination justifying a shorter payment period must be documented in writing, and incorporated into the solicitation/contract file.