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PART 432—CONTRACT FINANCING
Authority: 5 U.S.C. 301 and 40 U.S.C. 486(c).
Source: 89 FR 81015, Oct. 7, 2024, unless otherwise noted.
432.006 Reduction or suspension of contract payments upon finding of fraud.
432.007 Contract financing payments.
Subpart 432.1—Non-Commercial Item Purchase Financing
432.114 Unusual contract financing.
Subpart 432.2—Commercial Item Purchase Financing
432.206 Solicitation provisions and contract clauses.
Subpart 432.3—Loan Guarantees for Defense Production
Subpart 432.4—Advance Payments for Non-Commercial Items
Subpart 432.7—Contract Funding
432.703 Contract funding requirements.
432.703-3 Contracts crossing fiscal years.
432.770 USDA specific funding limitations.
432.001 Definitions.
Agency contract finance office is the office, other than the office of the requisitioner, providing funding or performing funding record keeping for the contract action.
Head of agency. For the purposes of this part, head of the agency means, exclusively, the Secretary or the Deputy Secretary.
Remedy coordination official (RCO). The USDA RCO is the Assistant Secretary for Administration.
Responsible fiscal authority is that officer in the agency contract finance office with the responsibility to ensure that adequate funds are available and usable for the intended purpose.
432.006 Reduction or suspension of contract payments upon finding of fraud.
432.006-5 Reporting.
The annual report required by FAR 32.006-5 is to be prepared by the SPE and submitted to the Secretary within 90 calendar days after the end of the fiscal year. When signed by the Secretary, the report is to be maintained by the SPE.
432.007 Contract financing payments.
The Mission Area senior contracting official may prescribe, on a case-by-case basis, a shorter period for financing payments.
Subpart 432.1—Non-Commercial Item Purchase Financing
432.114 Unusual contract financing.
The HCA is authorized to approve unusual contract financing.
Subpart 432.2—Commercial Item Purchase Financing
432.206 Solicitation provisions and contract clauses.
The responsibility for administration of the liquidation provisions of a contract may not be transferred from the contracting officer.
Subpart 432.3—Loan Guarantees for Defense Production
432.301 Definitions.
Within this subpart, the agency or guaranteeing agency is the HCA and may not be redelegated.
Subpart 432.4—Advance Payments for Non-Commercial Items
432.402 General.
An HCA is designated as the individual responsible for making the findings and determination, and for approval of the contract terms concerning advance payments.
432.406 Letters of credit.
The HCA is designated as the individual responsible for coordination with the Department of Treasury concerning letters of credit.
432.407 Interest.
(a) The HCA is designated as the individual who may authorize, on a case-by-case basis, advance payments without interest for the contract types described in FAR 32.407(d)(1), through (4). The signed determination and findings supporting these authorizations shall be included in the contract files.
(b) The SPE is designated as the individual who may authorize advance payments without interest other than those described in paragraph (a) of this section.
432.412 Contract clause.
The decision to use Alternates I or III to FAR 52.232-12 must be supported by a determination and finding.
Subpart 432.7—Contract Funding
432.703 Contract funding requirements.
Use the clause AGAR 452.232-70, Limitation of Government's Obligation, in solicitations and resultant incrementally funded fixed-price contracts.
432.703-3 Contracts crossing fiscal years.
Funds appropriated to USDA may be used for one-year contracts which are to be performed in two fiscal years so long as the total amount for such contracts is obligated in the year for which the funds are appropriated (7 U.S.C. 2209c).
432.770 USDA specific funding limitations.
The expenditure of any USDA appropriation for any consulting service through any contract, pursuant to section 3109 of Title 5 of the U.S. Code shall be limited to those contracts where such expenditures are a matter of public record and available for public inspection, except where otherwise provided under existing law, or under existing Executive Order issued pursuant to existing law (7 U.S.C. 2225a).
Subpart 432.8—Assignment of Claims
432.802 Conditions.
Written notices of assignment and a true copy of the assigned instrument are to be sent to the contracting officer rather than the agency head per FAR 32.802(e)(1). Other copies are distributed as directed in FAR 32.802.
