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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7 sections with “federally insured financial institution”

  • FAR 2.101 Definitions.
    …ives, the Architect of the Capitol, and any activities under the Architect's direction). Federally-controlled facilities means— (1) Federally-owned buildings or leased space, whether for single or multi-tenant occupancy, and its grounds a…
  • FAR 28.204-3 Irrevocable letter of credit.
    …as provided in paragraph (f) of this subsection, and be issued/confirmed by an acceptable federally insured financial institution as provided in paragraph (g) of this subsection. (c) To draw on the ILC, the contracting officer shall use th…
  • FAR 52.228-14 Irrevocable Letter of Credit.
    …evocable letter of credit” (ILC), as used in this clause, means a written commitment by a federally insured financial institution to pay all or part of a stated amount of money, until the expiration date of the letter, upon presentation by …
  • FAR 28.102-1 General.
    …i) A tripartite escrow agreement. The prime contractor establishes an escrow account in a federally insured financial institution and enters into a tripartite escrow agreement with the financial institution, as escrow agent, and all of the …
  • FAR 32.202-4 Security for Government financing.
    …. Other acceptable forms of security include— (1) An irrevocable letter of credit from a federally insured financial institution; (2) A bond from a surety, acceptable in accordance with part 28 (note that the bond must guarantee repayment…
  • DFARS 252.232-7012 Performance-Based Payments—Whole-Contract Basis.
    …AR 32.202-4: (A) A paramount lien on assets. (B) An irrevocable letter of credit from a federally insured financial institution. (C) A bond from a surety, acceptable in accordance with FAR part 28. (D) A guarantee of repayment from a pe…
  • DFARS 252.232-7013 Performance-Based Payments—Deliverable-Item Basis.
    …AR 32.202-4: (A) A paramount lien on assets. (B) An irrevocable letter of credit from a federally insured financial institution. (C) A bond from a surety, acceptable in accordance with FAR part 28. (D) A guarantee of repayment from a pe…

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.