SpendQueryBeta

48 CFR · Federal Acquisition Regulation and Defense supplement

FAR and DFARS navigator

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.

Ask the FAR

Try: · · ·

Clear

148 sections with “credit”: the first 40

  • FAR 28.204-3 Irrevocable letter of credit.
    …ed to furnish a bond has the option to furnish a bond secured by an irrevocable letter of credit (ILC) in an amount equal to the penal sum required to be secured (see 28.204). A separate ILC is required for each bond. (b) The ILC shall be …
  • FAR 32.406 Letters of credit.
    …reasury (Treasury) prescribes regulations and instructions covering the use of letters of credit for advance payments under contracts. See Treasury Department Circular 1075 (31 CFR part 205), and the implementing instructions in the Treasur…
  • FAR 52.228-14 Irrevocable Letter of Credit.
    As prescribed in 28.204-4, insert the following clause: Irrevocable Letter of Credit (NOV 2014) (a) “Irrevocable letter of credit” (ILC), as used in this clause, means a written commitment by a federally insured financial institution to p…
  • FAR 52.241-13 Capital Credits.
    …cribed in 41.501(d)(7), insert a clause substantially the same as the following: Capital Credits (FEB 1995) (a) The Government is a member of the ____ [insert cooperative name], and as any other member, is entitled to capital credits cons…
  • FAR 52.247-57 Transportation Transit Privilege Credits.
    …a nature, or when it is the custom of the trade, that offerors may have potential transit credits available and the Government may reduce transportation costs through the use of transit credits: Transportation Transit Privilege Credits (AP…
  • DFARS 219.7104 Developmental assistance costs eligible for reimbursement or credit.
    … the accounting treatment of developmental assistance costs eligible for reimbursement or credit. For mentor-protégé agreements entered into prior to December 23, 2022, to be eligible for reimbursement under the Program, the mentor firm mus…
  • FAR 31.201-5 Credits.
    The applicable portion of any income, rebate, allowance, or other credit relating to any allowable cost and received by or accruing to the contractor shall be credited to the Government either as a cost reduction or by cash refund. See 31.2…
  • FAR 32.608-2 Interest credits.
    (a) An equitable interest credit shall be applied under the following circumstances: (1) When the amount of debt initially determined is subsequently reduced; e.g., through a successful appeal. (2) When any amount collected by the Governm…
  • FAR 31.205-13 Employee morale, health, welfare, food service, and dormitory costs and credits.
    (a) Aggregate costs incurred on activities designed to improve working conditions, employer-employee relations, employee morale, and employee performance (less income generated by these activities) are allowable, subject to the limitations …
  • FAR 31.205-6 Compensation for personal services.
    …the event of employment with a replacement contractor where continuity of employment with credit for prior length of service is preserved under substantially equal conditions of employment, or continued employment by the contractor at anoth…
  • FAR 31.205-26 Material costs.
    … work). (b) The contractor shall— (1) Adjust the costs of material for income and other credits, including available trade discounts, refunds, rebates, allowances, and cash discounts, and credits for scrap, salvage, and material returned …
  • FAR 47.305-13 Transit arrangements.
    …enefits may accrue to the Government because transit arrangements may apply. (b) Transit credits. (1) In evaluations of f.o.b. origin offers for large quantities of supplies that contractors normally have in process or storage at intermedi…
  • FAR 52.216-16 Incentive Price Revision—Firm Target.
    … and to a procedure for subsequent disposition of those elements; and (2) Adjustments or credits are explicitly permitted or required by this or any other clause in this contract. (f) Adjusting billing prices. (1) Pending execution of the…
  • FAR 52.216-17 Incentive Price Revision—Successive Targets.
    … and to a procedure for subsequent disposition of these elements; and (2) Adjustments or credits are explicitly permitted or required by this or any other clause in this contract. (h) Adjustment of billing prices. (1) Pending execution of…
  • FAR 52.222-41 Service Contract Labor Standards.
    …ly and regularly receives more than $30 a month in tips may have the amount of these tips credited by the employer against the minimum wage required by 41 U.S.C. 6703(1), in accordance with section 3(m) of the Fair Labor Standards Act and R…
  • FAR 52.232-12 Advance Payments.
    …sert the name of the office designated under agency procedures], or (2) under a letter of credit. The amount of the invoice or voucher submitted plus all advance payments previously approved shall not exceed $___ If a letter of credit is us…
  • FAR 52.241-9 Connection Charge.
    …aintenance, or repair of such facilities, shall be the obligation of the Contractor. (c) Credits. (1) The Contractor agrees to allow the Government, on each monthly bill for service furnished under this contract to the service location, a …
  • DFARS 232.072-2 Appropriate information.
    …ash to finance contract performance; (ii) Contractor's exposure to financial crisis from creditor's demands; (iii) Degree to which credit security provisions could conflict with Government title terms under contract financing; (iv) Clear…
  • DFARS 237.7204 Format and clauses for educational service agreements.
    …each student; (iii) A list showing each course for each student if the school charges by credit hour; (iv) The resident or nonresident status of each student (if applicable to the Contractor's school); and (v) A breakdown of charges for …
  • DFARS 252.241-7000 Superseding contract.
    …t supersedes contract No. ______, dated ____ which provided similar services. Any capital credits accrued to the Government, any remaining credits due to the Government under the connection charge, or any termination liability are transferr…
  • FAR 31.205-41 Taxes.
    …penalties that were allowed as contract costs and are refunded to the contractor shall be credited or paid to the Government in the manner it directs. If a contractor or subcontractor obtains a foreign tax credit that reduces its U.S. Feder…
  • FAR 49.603-3 Cost-reimbursement contracts—complete termination, if settlement includes cost.
    … the Government, or otherwise properly accounted for, and that all proceeds and retention credits have been used in arriving at this agreement. (2) The Contractor certifies that each immediate subcontractor, whose settlement proposal is in…
  • FAR 52.216-5 Price Redetermination—Prospective.
    …ted to reflect the agreed-upon prices, and any requested additional payments, refunds, or credits shall be made promptly. (h) Quarterly limitation on payments statement. This paragraph (h) applies only during periods for which firm prices …
  • FAR 52.216-6 Price Redetermination—Retroactive.
    …ted to reflect the agreed-upon prices, and any resulting additional payments, refunds, or credits shall be made promptly. (g) Quarterly limitation on payments statement. This paragraph (g) shall apply until final price redetermination unde…
  • FAR 52.219-9 Small Business Subcontracting Plan.
    …bcontractors shall be limited to awards made to their immediate next-tier subcontractors. Credit cannot be taken for awards made to lower tier subcontractors, unless the Contractor or subcontractor has been designated to receive a small bus…
  • DFARS 252.239-7000 Protection against compromising emanations.
    …ovide or use only information technology, as specified by the Government, that has been accredited to meet the appropriate information assurance requirements of— (1) The National Security Agency National TEMPEST Standards (NSTISSAM TEMPEST…
  • FAR 2.101 Definitions.
    … the purpose of ordering, instructing, or authorizing a financial institution to debit or credit an account. The term includes Automated Clearing House transfers, Fedwire transfers, and transfers made at automatic teller machines and point-…
  • FAR 28.307-1 Group insurance plans.
    …gnificantly the cost to the Government requires similar approval. (b) Premium refunds or credits. The plan shall provide for the Government to share in any premium refunds or credits paid or otherwise allowed to the contractor. In determin…
  • FAR 31.001 Definitions.
    …for each cost accounting period is the present value of the units of benefit deemed to be credited to employees for service in that period. The measure of the actuarial accrued liability at a plan's inception date is the present value of th…
  • FAR 32.202-4 Security for Government financing.
    …s capital equipment loans, installment purchases, working capital loans, various lines of credit, and revolving credit arrangements. (c) Other assets as security. Contracting officers may consider the guidance at 28.203 and 28.204 in deter…
  • FAR 32.409-3 Security, supervision, and covenants.
    …ther security requirements. The lien should cover— (1) Supplies being acquired; (2) Any credit balance in the special account in which advance payments are deposited; and (3) All property that the contractor acquires for performing the c…
  • FAR 32.411 Agreement for special account at a financial institution.
    …ning of the Act creating the Federal Deposit Insurance Corporation (12 U.S.C. 1811), or a credit union insured by the National Credit Union Administration. The parties agree to deposit the amounts with the financial institution, which meets…
  • FAR 49.603-1 Fixed-price contracts—complete termination.
    … the Government, or otherwise properly accounted for, and that all proceeds and retention credits have been used in arriving at this agreement. (2) The Contractor certifies that each immediate subcontractor, whose settlement proposal is in…
  • FAR 49.603-2 Fixed-price contracts—partial termination.
    … the Government, or otherwise properly accounted for, and that all proceeds and retention credits have been used in arriving at this agreement. (3) The Contractor certifies that each immediate subcontractor, whose settlement proposal is in…
  • FAR 52.207-5 Option To Purchase Equipment.
    …he basis of the purchase price set forth in the contract, minus the total purchase option credits accumulated during the period of lease or rental, calculated by the formula contained elsewhere in this contract. (d) The accumulated purchas…
  • FAR 52.212-4 Contract Terms and Conditions—Commercial Products and Commercial Services.
    …ent check to the Contractor from which an amount otherwise payable has been withheld as a credit against the contract debt; or (C) The date on which an amount withheld and applied to the contract debt would otherwise have become payable to…
  • FAR 52.216-7 Allowable Cost and Payment.
    …ot previously paid. (2) The Contractor shall pay to the Government any refunds, rebates, credits, or other amounts (including interest, if any) accruing to or received by the Contractor or any assignee under this contract, to the extent th…
  • FAR 52.249-2 Termination for Convenience of the Government (Fixed-Price).
    …)(6) of this clause; provided, however, that the Contractor (i) is not required to extend credit to any purchaser and (ii) may acquire the property under the conditions prescribed by, and at prices approved by, the Contracting Officer. The …
  • FAR 52.249-3 Termination for Convenience of the Government (Dismantling, Demolition, or Removal of Improvements).
    …)(6) of this clause; provided, however, that the Contractor (i) is not required to extend credit to any purchaser and (ii) may acquire the property under the conditions prescribed by, and at prices approved by, the Contracting Officer. The …
  • FAR 52.249-6 Termination (Cost-Reimbursement).
    …)(6) of this clause; provided, however, that the Contractor (i) is not required to extend credit to any purchaser and (ii) may acquire the property under the conditions prescribed by, and at prices approved by, the Contracting Officer. The …

FAR (chapter 1)

DFARS (chapter 2, Defense)

Source: eCFR, 48 CFR chapters 1 and 2 (GPO GovInfo bulk data) ↗. Rule changes in progress: FAR, DFARS. Terms: glossary.