Source: http://cfr.regstoday.com/48cfr2132.aspx
Timestamp: 2013-05-21 03:04:22
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Matched Legal Cases: ['ART 2132', 'art 2132', 'art 2132', 'art 2132', 'art 2132', 'art 2132', 'art 2132', 'art 2132', 'art 2132']

48 CFR 2132 : CONTRACT FINANCING [ 48 CFR 2132 ] : (FEDERAL ACQUISITION REGULATIONS SYSTEM [ 48 CFR ])
TITLE 48 — FEDERAL ACQUISITION REGULATIONS SYSTEM [ 48 CFR ]
PART 2132 — CONTRACT FINANCING [ 48 CFR 2132 ]
Note: — Current as of: 09/27/2012, Updated weekly.— Enhanced with links to US Code, FR and CFR References where ever possible and more to come.— You can embed the URL to this page in your documents to access the current CFR part. — This consolidated CFR Part was last updated by Federal Register(FR) dated 07/18/2005 for 2132.170; 2132.771; .
Table of ContentsSubpart 2132.1 — General [ Last FR update*: 07/28/1993 ] 2132.170 — Recurring premium payments to Contractors. [ Last FR update*: 07/18/2005 ] 2132.171 — Contract clause. [ Last FR update*: 07/28/1993 ] Subpart 2132.6 — Contract Debts [ Last FR update*: 07/28/1993 ] 2132.607 — Tax credit. [ Last FR update*: 07/28/1993 ] 2132.617 — Contract clause. [ Last FR update*: 07/28/1993 ] Subpart 2132.7 — Contract Funding [ Last FR update*: 07/28/1993 ] 2132.770 — Insurance premium payments and special contingency reserve. [ Last FR update*: 07/28/1993 ] 2132.771 — Non-commingling of FEGLI Program funds. [ Last FR update*: 07/18/2005 ] 2132.772 — Contract clause. [ Last FR update*: 07/28/1993 ] Subpart 2132.8 — Assignment of Claims [ Last FR update*: 07/28/1993 ] 2132.806 — Contract clause. [ Last FR update*: 07/28/1993 ] Authority:
5 U.S.C. 8716; 40 U.S.C. 486(c); 48 CFR 1.301.Source:
58 FR 40379, July 28, 1993, unless otherwise noted.Subpart 2132.1—General
2132.170 Recurring premium payments to Contractors.
(a) OPM will make payments on a letter of credit (LOC) basis. OPM and the Contractor will concur on an estimate of benefits and administrative costs plus the fixed service or risk charge for the forthcoming contract year, as specified in the contract. The annual premium to the Contractor, based on this estimate, will be credited to the Contractor's LOC account in 12 equal monthly installments due on the first business day of each month and available for drawdown. OPM will credit the Contractor's LOC account for the December payment no later than the last business day of each calendar year. Following the close of the contract year, a reconciliation of premiums, benefits, and other costs will be performed as a limited cost redetermination. In addition, interest distribution payments will be made available for Contractor drawdown from the LOC account. The Contractor will use the LOC account in accordance with guidelines issued by OPM. (b) Withdrawals from the LOC account for benefit costs of $5,000 or more will be made on a claims-paid basis. Withdrawals from the LOC account for benefit costs of less than $5,000 and other FEGLI Program disbursements will be made on a checks-presented basis. Under a checks-presented basis, drawdown on the LOC is delayed until the checks issued for FEGLI Program disbursements are presented to the Contractor's bank for payment. (c) Nothing in this chapter will affect the ability of the Contractor to hold the special contingency reserve established and maintained in accordance with the terms of 5 U.S.C. 8712. [70 FR 41153, July 18, 2005]2132.171 Contract clause.
The clause at 2152.232–70 shall be inserted in all FEGLI Program contracts. Subpart 2132.6—Contract Debts
2132.607 Tax credit.
FAR 32.607 has no practical application to FEGLI Program contracts. The statutory provisions at 5 U.S.C. 8707 and 8708 authorize joint enrollee and Government contributions to the Employees' Life Insurance Fund. Because the Fund is comprised of contributions by enrollees as well as the Government, contractors may not offset debts to the Fund by a tax credit that is solely a Government obligation. 2132.617 Contract clause.
The clause at FAR 52.232–17 is modified in FEGLI Program contracts to exclude the parenthetical phrase “(net of any applicable tax credit under the Internal Revenue Code (26 U.S.C. 1481)).” Subpart 2132.7—Contract Funding
2132.770 Insurance premium payments and special contingency reserve.
Insurance premium payments and a special contingency reserve are made available to FEGLI Program contractors in accordance with 5 U.S.C. 8712 and 8714. 2132.771 Non-commingling of FEGLI Program funds.
(a) FEGLI Program funds must be maintained in such a manner as to be separately identifiable from other assets of the Contractor. Cash and investment balances reported on the FEGLI Program Annual Financial Report must be supported by the Contractor's books and records. (b) This requirement may be modified by the Contracting Officer in accordance with the clause at 2152.232–71 of this chapter when adequate accounting and other controls are in effect. If the requirement is modified, such modification will remain in effect until rescinded by OPM. [70 FR 41153, July 18, 2005]2132.772 Contract clause.
The clause at 2152.232–71 shall be inserted in all FEGLI Program contracts. Subpart 2132.8—Assignment of Claims
2132.806 Contract clause.
The clause set forth in 2152.232–72 shall be inserted in all FEGLI Program contracts. Disclaimer: This content has been enhanced for improved usability, user is solely responsible for accessing and use of the content provided on this page. To read the original content published by the government, please check with GPO.* Based on consolidated data.