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48 CFR · Federal Acquisition Regulation and Defense supplement

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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.

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43 sections with “credits”: the first 40

  • 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…
  • FAR 32.608-2 Interest credits.
    …ded an interest penalty was not paid for such late payment. (b) Any appropriate interest credits shall be computed under the following procedures: (1) Interest at the rate under 52.232-17 shall be charged on the reduced debt from the date…
  • 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 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 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 52.241-9 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 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 31.205-26 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 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 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 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 52.216-7 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 52.216-16 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 52.232-12 Advance Payments.
    …) The termination inventory is sold or retained; and (ii) The sale proceeds or retention credits are applied to reduce any outstanding advance payments. (j) Insurance. (1) The Contractor shall maintain with responsible insurance carriers—…
  • DFARS 237.7204 Format and clauses for educational service agreements.
    …d explain the supplemental invoice or the adjustment. (i) The Contractor shall apply any credits resulting from withdrawal of students, or from any other cause under its standard procedures, to subsequent invoices submitted under this agre…
  • FAR 31.105 Construction and architect-engineer contracts.
    …t accounting practices for all work. (4) Rental and any other costs, less any applicable credits incurred in acquiring the temporary use of land, structures, and facilities are allowable. Costs, less any applicable credits, incurred in con…
  • FAR 41.501 Solicitation provision and contract clauses.
    …, or as periodic payments to fulfill the Government's obligation. (7) 52.241-13, Capital Credits, when the Federal Government is a member of a cooperative and is entitled to capital credits, consistent with the bylaws and governing documen…
  • FAR 49.203 Adjustment for loss.
    …than the total of the amounts in subparagraphs (1), (2), and (3) below, less all disposal credits and all unliquidated advance and progress payments previously made under the contract: (1) The amount negotiated or determined for settlement…
  • FAR 49.206-2 Bases for settlement proposals.
    …ement proposal. All unliquidated advance and progress payments and all disposal and other credits known when the proposal is submitted must then be deducted. (3) This inventory basis is also appropriate for use under the following circumst…
  • 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 52.228-14 Irrevocable Letter of Credit.
    …his Letter of Credit is subject to the Uniform Customs and Practice (UCP) for Documentary Credits, International Chamber of Commerce Publication No. ____ (Insert version in effect at the time of ILC issuance, e.g., “Publication 600, 2006 ed…
  • DFARS 241.501-70 Additional clauses.
    (a) If the Government must execute a superseding contract and capital credits, connection charge credits, or termination liability exist, use the clause at 252.241-7000, Superseding Contract. (b) Use the clause at 252.241-70001, Government…
  • FAR 28.204-3 Irrevocable letter of credit.
    …lause at 52.228-14. (h) A copy of the Uniform Customs and Practice (UCP) for Documentary Credits, 2007 Edition, International Chamber of Commerce Publication No. 600, is available from: ICC Books USA, 1212 Avenue of the Americas, 21st Floo…
  • FAR 31.201-1 Composition of total cost.
    …o be incurred, plus any allocable cost of money pursuant to 31.205-10, less any allocable credits. In ascertaining what constitutes a cost, any generally accepted method of determining or estimating costs that is equitable and is consistent…
  • FAR 31.205-6 Compensation for personal services.
    …red to be made for a cost accounting period after taking into account dividends and other credits, where applicable. However, any portion of pension cost computed for a cost accounting period that exceeds the amount required to be funded pu…
  • FAR 31.205-16 Gains and losses on disposition or impairment of depreciable property or other capital assets.
    …e 31.205-19) of depreciable property shall be included in the year in which they occur as credits or charges to the cost grouping(s) in which the depreciation or amortization applicable to those assets was included (but see paragraph (f) of…
  • FAR 41.202 Procedures.
    …y applicable connection charges. (5) Historical record of any applicable ongoing capital credits. (6) A copy of the applicable rate schedule. (e) If the Government obtains utility service pursuant to paragraph (c) of this section, the co…
  • FAR 47.502 Policy.
    … account of a foreign nation in connection with which the United States advances funds or credits, or guarantees the convertibility of foreign currencies; or (iv) Acquired with advance of funds, loans, or guaranties made by or on behalf of…
  • FAR 49.002 Applicability.
    … the contract price and amounts for the settlement of subcontractor settlement proposals. Credits for retention or other disposal of termination inventory and amounts for advance or partial payments shall not be deducted.
  • FAR 49.112-1 Partial payments.
    …hich are allocable to the terminated portion of the contract; and (2) The amounts of all credits arising from the purchase, retention, or sale of property, the costs of which are included in the application for payment. (f) Limitation on …
  • FAR 49.205 Completed end items.
    …he contract price, adjusted for any saving of freight or other charges, together with any credits for their purchase, retention, or sale. (b) Work in place accepted by the Government under a construction contract is not considered a comple…
  • FAR 49.207 Limitation on settlements.
    …tal amount payable to the contractor for a settlement, before deducting disposal or other credits and exclusive of settlement costs, must not exceed the contract price less payments otherwise made or to be made under the contract.
  • FAR 49.603-8 Fixed-price contracts—settlements with subcontractors only.
    … the Government, or otherwise properly accounted for, and that all proceeds and retention credits were used in arriving at the settlement of the subcontract, and (ii) that the subcontractor has received a similar certificate from each immed…
  • FAR 49.606 Granting subcontract settlement authorization.
    …on being granted], computed as follows: (i) Do not deduct advance or partial payments or credits for retention or other disposal of termination inventory allocated to the settlement proposal. (ii) Deduct amounts payable for completed arti…
  • FAR 52.232-7 Payments under Time-and-Materials and Labor-Hour Contracts.
    …satisfactory materials; and (ii) Take all cash and trade discounts, rebates, allowances, credits, salvage, commissions, and other benefits. When unable to take advantage of the benefits, the Contractor shall promptly notify the Contracting…

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.