Source: https://www.cao.gov/hudar/hudar-part-2432-contract-financing
Timestamp: 2019-11-22 15:57:01
Document Index: 773942195

Matched Legal Cases: ['art 2432', 'art 2432', 'ART 2432', 'ART 2432', 'art 2432', 'art 2432', 'art 2432', 'art 2432', 'art 2432']

HUDAR Part 2432--Contract Financing | Acquisition.GOV
HomeHUDAR Part 2432--Contract Financing
HUDAR PART 2432--CONTRACT FINANCING
PART 2432--CONTRACT FINANCING
Subpart 2432.1--Non-Commercial Item Purchase Financing
Subpart 2432.2--Commercial Item Purchase Financing
Subpart 2432.4--Advance Payments for Non-Commercial Items
Subpart 2432.7--Contract Funding
Subpart 2432.9--Prompt Payment
2432.906 Contract financing payments.
The Senior Procurement Executive is the agency head for the purposes of
FAR 32.006-1. In accordance with
FAR 32.006-1(c), the Senior Procurement Executive may delegate the remedy coordination official duties to personnel in the Office of the Chief Procurement
(a) The Senior Procurement Executive is the agency head for the purposes of
FAR 32.007(a).
The Senior Procurement Executive is the agency head for the purpose of
(e)(1) The determination and findings required by
FAR 32.402(c)(1)(iii) shall be made by the HCA.
(d) The Senior Procurement Executive is the agency head's designee for the purposes of
(b)(1) Except as described herein, a fixed-price contract may be funded incrementally only if--
(ii) The contract (excluding any options) or any exercised option--
(a) Upon receipt of the contractor's notice under paragraph (c) of the clause at
2452.232-72, Limitation of Government's Obligation, the contracting officer shall promptly provide written notice to the contractor that the Government is—
(c) The contracting officer shall ensure that, in accordance with paragraph (b) of the clause at
2452.232-72, “Limitation of Government's obligation,” sufficient funds are allotted to the contract to cover the total amount payable to the contractor in the event of termination for the convenience of the Government.
2452.232-72, ``Limitation of Government's Obligation,'' in solicitations and resultant incrementally funded fixed-price contracts as authorized by 2432.703-1. The Contracting Officer shall insert the information required in the table in paragraph (b) and the notification period in paragraph (c) of the clause.
2452.232-74, ``Not To Exceed Limitation'' in all solicitations and contracts where the total estimated funds needed for the performance period are not yet obligated.
FAR 32.903(a).
(a) General. The authority to make the determination prescribed in
FAR 32.906(a) is delegated to the HCA. Before making this determination, the HCA shall consult with the appropriate payment office to ensure that procedures are in place to permit timely payment.
(c)(1) The contracting officer shall insert the clause at
2452.232-73, Constructive Acceptance Period, in solicitations and contracts when the contracting officer has determined that an acceptance period longer than the 7 days provided for in the FAR clause at
52.232-25, “Prompt Payment,” is needed.
(2) The contracting officer shall insert a clause substantially the same as provided at
2452.232-70, Payment Schedule and Invoice Submission (Fixed-price), in fixed-price contracts other than performance-based contracts under which performance-based payments will be used.
(3) The contracting officer shall insert a clause substantially the same as provided at
2452.232-71, Voucher Submission, in all cost-reimbursement, time-and-materials, and labor-hour type solicitations and contracts. The contracting officer shall insert the billing period agreed upon with the contractor (see also the FAR clause at
52.216-7, “Allowable Cost and Payment”).