[Code of Federal Regulations]

[Title 48, Volume 1]

[Revised as of October 1, 2005]

From the U.S. Government Printing Office via GPO Access

[CITE: 48CFR13.305-3]



[Page 221]

 

            TITLE 48--FEDERAL ACQUISITION REGULATIONS SYSTEM

 

                CHAPTER 1--FEDERAL ACQUISITION REGULATION

 

PART 13_SIMPLIFIED ACQUISITION PROCEDURES--Table of Contents

 

               Subpart 13.3_Simplified Acquisition Methods

 

Sec. 13.305-3  Conditions for use.



    Imprest funds or third party drafts may be used for purchases when--

    (a) The imprest fund transaction does not exceed $500 or such other 

limits as have been approved by the agency head;

    (b) The third party draft transaction does not exceed $2,500, unless 

authorized at a higher level in accordance with Treasury restrictions;

    (c) The use of imprest funds or third party drafts is considered to 

be advantageous to the Government; and

    (d) The use of imprest funds or third party drafts for the 

transaction otherwise complies with any additional conditions 

established by agencies and with the policies and regulations referenced 

in 13.305-1.