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FAR and DFARS › DFARS Part 252: Solicitation Provisions and Contract Clauses › Subpart 252.2

DFARS 252.232-7015 Performance-Based Payments—Representation.

The codified text (eCFR, as of 2026-10-02). Under the Revolutionary FAR Overhaul ↗, agencies follow class deviations with new text for many parts while the formal rules go through the Federal Register: check the solicitation and your contract's clauses, which rule.

In plain English

This DFARS provision requires an offeror to represent whether its financial statements comply with Generally Accepted Accounting Principles. Compliance is required by law for a contractor to receive performance-based payments. It matters because the representation affects eligibility for those payments.

Applies to: Offerors on solicitations that include this provision

What it requires

  • Represent whether its financial statements are in compliance with Generally Accepted Accounting Principles

Key terms: Performance-based payments · Generally Accepted Accounting Principles · Offeror · Contractor · Financial statements

Written by AI from this section's text. A guide, not legal advice: the text below rules.

The text

As prescribed in 232.1005-70(b), use the following provision:

Performance-Based Payments—Representation (DEC 2022)

(a) In accordance with 10 U.S.C. 3802(c), the Contractor's financial statements shall be in compliance with Generally Accepted Accounting Principles in order to receive performance-based payments.

(b) The Offeror represents that its financial statements are [ ] are not [ ] in compliance with Generally Accepted Accounting Principles.

(End of provision)

Sections it refers to

  • 232.1005-70 Solicitation provisions and contract clauses.

Sections that refer to it

  • 204.1202 Solicitation provision and contract clause.
  • 232.1005-70 Solicitation provisions and contract clauses.
  • 252.232-7016 Notice of Progress Payments or Performance-Based Payments.

← 252.232-7014 [Reserved] · 252.232-7016 Notice of Progress Payments or Performance-Based Payments. →

Rule changes for DFARS Part 252

Source: eCFR, 48 CFR chapters 1 and 2 (GPO GovInfo bulk data) ↗. Plain words for the terms: glossary.

DFARS 252.232-7015 Performance-Based Payments—Representation · SpendQuery