[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: 48CFR32.207]



[Page 659]

 

            TITLE 48--FEDERAL ACQUISITION REGULATIONS SYSTEM

 

                CHAPTER 1--FEDERAL ACQUISITION REGULATION

 

PART 32_CONTRACT FINANCING--Table of Contents

 

             Subpart 32.2_Commercial Item Purchase Financing

 

Sec. 32.207  Administration and payment of commercial financing payments.



    (a) Responsibility. The contracting officer responsible for 

administration of the contract shall be responsible for review and 

approval of contract financing requests.

    (b) Approval of financing requests. Unless otherwise provided in 

agency regulations, or by agreement with the appropriate payment 

official--

    (1) The contracting officer shall be responsible for receiving, 

approving, and transmitting all contract financing requests to the 

appropriate payment office; and

    (2) Each approval shall specify the amount to be paid, necessary 

contractual information, and the account(s) (see 32.206(d)) to be 

charged for the payment.

    (c) Management of security. After contract award, the contracting 

officer responsible for approving requests for financing payments shall 

be responsible for determining that the security continues to be 

adequate. If the contractor's financial condition is the Government's 

security, this contracting officer is also responsible for monitoring 

the contractor's financial condition.