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FAR and DFARS › FAR Part 32: Contract Financing › Subpart 32.11

FAR 32.1102 Definitions.

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 section defines three terms used in the rules about electronic payments to contractors. It explains what EFT information, the Governmentwide commercial purchase card, and payment information mean. Knowing these definitions matters because other sections in this subpart use these terms to set payment rules.

Applies to: Contractors receiving payment from the Government under this subpart

Key terms: Electron Funds Transfer information (EFT) · Governmentwide commercial purchase card · Payment information · EFT method · Prompt Payment Act

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

The text

As used in this subpart—

Electron Funds Transfer information (EFT) means information necessary for making a payment by EFT through specified EFT mechanisms.

Governmentwide commercial purchase card means a card that is similar in nature to a commercial credit card that is used to make financing and delivery payments for supplies and services. The purchase card is an EFT method and it may be used as a means to meet the requirement to pay by EFT, to the extent that purchase card limits do not preclude such payments.

Payment information means the payment advice provided by the Government to the contractor that identifies what the payment is for, any computations or adjustments made by the Government, and any information required by the Prompt Payment Act.

← 32.1101 Statutory requirements. · 32.1103 Applicability. →

Rule changes for FAR Part 32

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

FAR 32.1102 Definitions · SpendQuery