[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: 48CFR25.1002]



[Page 501]

 

            TITLE 48--FEDERAL ACQUISITION REGULATIONS SYSTEM

 

                CHAPTER 1--FEDERAL ACQUISITION REGULATION

 

PART 25_FOREIGN ACQUISITION--Table of Contents

 

        Subpart 25.10_Additional Foreign Acquisition Regulations

 

Sec. 25.1002  Use of foreign currency.



    (a) Unless an international agreement or the WTO GPA (see 

25.408(a)(4)) requires a specific currency, contracting officers must 

determine whether solicitations for contracts to be entered into and 

performed outside the United States will require submission of offers in 

U.S. currency or a specified foreign currency. In unusual circumstances, 

the contracting officer may permit submission of offers in other than a 

specified currency.

    (b) To ensure a fair evaluation of offers, solicitations generally 

should require all offers to be priced in the same currency. However, if 

the solicitation permits submission of offers in other than a specified 

currency, the contracting officer must convert the offered prices to 

U.S. currency for evaluation purposes. The contracting officer must use 

the current market exchange rate from a commonly used source in effect 

as follows:

    (1) For acquisitions conducted using sealed bidding procedures, on 

the date of bid opening.

    (2) For acquisitions conducted using negotiation procedures--

    (i) On the date specified for receipt of offers, if award is based 

on initial offers; otherwise

    (ii) On the date specified for receipt of final proposal revisions.

    (c) If a contract is priced in foreign currency, the agency must 

ensure that adequate funds are available to cover currency fluctuations 

to avoid a violation of the Anti-Deficiency Act (31 U.S.C. 1341, 1342, 

1511-1519).



[64 FR 72419, Dec. 27, 1999, as amended at 69 FR 1055, Jan. 7, 2004; 69 

FR 77876, Dec. 28, 2004]