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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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38 sections with “financial institution”

  • FAR 32.411 Agreement for special account at a financial institution.
    …ert the name of the State of incorporation] corporation (the Contractor), and ________, a financial institution operating under the laws of ________, located at ________ (the financial institution). Recitals (a) Under date of ________, 20…
  • FAR 2.101 Definitions.
    …e, computer, or magnetic tape, for 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 au…
  • FAR 9.105-1 Obtaining information.
    …office— (A) That office shall advise the contracting officer on prospective contractors' financial competence and credit needs; and (B) The administrative contracting officer shall obtain from the auditor any information required concerni…
  • FAR 28.204-3 Irrevocable letter of credit.
    …agraph (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 the sight draft set …
  • FAR 32.202-4 Security for Government financing.
    …. (2) Subject to agency regulations, the contracting officer may determine the offeror's financial condition to be adequate security, provided the offeror agrees to provide additional security should that financial condition become inadequ…
  • FAR 32.403 Applicability.
    …urity to permit assignment of claims under the contract. (e) Contracts entered into with financially weak contractors whose technical ability is considered essential to the agency. In these cases, the agency shall closely monitor the contr…
  • FAR 52.228-14 Irrevocable Letter of Credit.
    … 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 the Government (th…
  • FAR 52.232-12 Advance Payments.
    …or deposit only in the Contractor's special account with the ____ [insert the name of the financial institution]. None of the funds in the special account shall be mingled with other funds of the Contractor. Withdrawals from the special acc…
  • FAR 52.232-34 Payment by Electronic Funds Transfer—Other than System for Award Management.
    … meaning of paragraph (d) of this clause. (h) Liability for change of EFT information by financial agent. The Government is not liable for errors resulting from changes to EFT information provided by the Contractor's financial agent. (i) …
  • FAR 32.408 Application for advance payments.
    …nts. (3) The proposed total amount of advance payments. (4) The name and address of the financial institution at which the contractor expects to establish a special account as depository for the advance payments. If advance payments in th…
  • FAR 52.232-38 Submission of Electronic Funds Transfer Information with Offer.
    … information. (4) The name, address, and 9-digit Routing Transit Number of the offeror's financial agent. (5) The offeror's account number and the type of account (checking, savings, or lockbox). (6) If applicable, the Fedwire Transfer S…
  • FAR 28.102-1 General.
    …crow 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 suppliers of labor…
  • FAR 52.232-33 Payment by Electronic Funds Transfer—System for Award Management.
    …rement of this contract, payment to an ultimate recipient other than the Contractor, or a financial institution properly recognized under an assignment of claims pursuant to subpart 32.8, is not permitted. In all respects, the requirements …
  • FAR 32.303 General.
    …ent. (d) Guaranteed loans are essentially the same as conventional loans made by private financial institutions, except that the guaranteeing agency is obligated, on demand of the lender, to purchase a stated percentage of the loan and to …
  • FAR 32.409-3 Security, supervision, and covenants.
    …ncy shall (1) ensure that the amount of advance payments does not exceed the contractor's financial needs, and (2) closely supervise the contractor's withdrawal of funds from special accounts in which the advance payments are deposited. (c…
  • FAR 32.410 Findings, determination, and authorization.
    …se requires that all payments will be desposited in a special account at the Contractor's financial institution and that the Government will have a paramount lien on (i) the credit balance in the special account, (ii) any supplies contracte…
  • FAR 52.228-2 Additional Bond Security.
    …ying labor or materials under this contract if— (a) Any surety upon any bond, or issuing financial institution for other security, furnished with this contract becomes unacceptable to the Government; (b) Any surety fails to furnish report…
  • FAR 52.230-5 Cost Accounting Standards—Educational Institution.
    …ntracting Officer that the Disclosure Statement contains trade secrets, and commercial or financial information which is privileged and confidential, the Disclosure Statement shall be protected and shall not be released outside of the Gover…
  • DFARS 252.232-7012 Performance-Based Payments—Whole-Contract Basis.
    …pon completion of each event. (b) 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. (c)(1) The …
  • DFARS 252.232-7013 Performance-Based Payments—Deliverable-Item Basis.
    …pon completion of each event. (b) 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. (c)(1) The …
  • FAR 25.703-1 Definitions.
    …A natural person; (ii) A corporation, business association, partnership, society, trust, financial institution, insurer, underwriter, guarantor, and any other business organization, any other nongovernmental entity, organization, or group,…
  • FAR 32.300 Scope of subpart.
    …ibes policies and procedures for designated agencies' guarantees of loans made by private financial institutions to borrowers performing contracts related to national defense (see 30.102).
  • FAR 32.407 Interest.
    …ed balance of all advance payments at the higher of— (1) The published prime rate of the financial institution (depository) in which the special account (see 32.409-3) is established; or (2) The rate established by the Secretary of the Tr…
  • FAR 32.902 Definitions.
    …ns the date on which an electronic funds transfer payment is credited to the contractor's financial institution.
  • FAR 32.1108 Payment by Governmentwide commercial purchase card.
    A Governmentwide commercial purchase card charge authorizes the third party (e.g., financial institution) that issued the purchase card to make immediate payment to the contractor. The Government reimburses the third party at a later date f…
  • FAR 42.101 Contract audit responsibilities.
    …nd advice to the requesting activity, based on the auditor's analysis of the contractor's financial and accounting records or other related data as to the acceptability of the contractor's incurred and estimated costs; (2) Reviewing the fi…
  • FAR 52.225-25 Prohibition on Contracting with Entities Engaging in Certain Activities or Transactions Relating to Iran—Representation and Certifications.
    …A natural person; (ii) A corporation, business association, partnership, society, trust, financial institution, insurer, underwriter, guarantor, and any other business organization, any other nongovernmental entity, organization, or group,…
  • DFARS 225.7020-1 Definitions.
    …ltilateral development institution (as defined in section 1701(c)(3) of the International Financial Institutions Act (22 U.S.C. 262r(c)(3)); and (3) Any successor, subunit, parent entity, or subsidiary of, or any entity under common owners…
  • DFARS 252.225-7056 Prohibition Regarding Business Operations with the Maduro Regime.
    …ltilateral development institution (as defined in section 1701(c)(3) of the International Financial Institutions Act (22 U.S.C. 262r(c)(3)); and (3) Any successor, subunit, parent entity, or subsidiary of, or any entity under common owners…
  • FAR 15.609 Limited use of data.
    …f Information Act (5 U.S.C. 552). An offeror should identify trade secrets, commercial or financial information, and privileged or confidential information to the Government (see paragraph (a) of this section). (f) When an agency receives …
  • FAR 32.304-2 Certificate of eligibility.
    …ligibility, the accompanying data, and any other relevant information on the contractor's financial status and performance, to determine whether authorization of a loan guarantee would be in the Government's interest. (c) If the contractor…
  • FAR 32.304-5 Assignment of claims under contracts.
    … require assignment if any of the following conditions are present: (1) The contractor's financial condition is so strong that the protection to the Government provided by an assignment of claims is unnecessary. (2) In connection with the…
  • FAR 35.014 Government property and title.
    …nied the benefits of, or be otherwise subjected to discrimination under this contemplated financial assistance (title to equipment).” (2) By signing the contract, the contractor accepts and agrees to comply with this requirement. (e) The …
  • FAR 50.201 Definitions.
    …fied by the Secretary of Homeland Security: (1) Is unlawful. (2) Causes harm, including financial harm, to a person, property, or entity, in the United States, or in the case of a domestic United States air carrier or a United States-flag…
  • FAR 52.250-3 SAFETY Act Block Designation/Certification.
    …fied by the Secretary of Homeland Security: (1) Is unlawful. (2) Causes harm, including financial harm, to a person, property, or entity, in the United States, or in the case of a domestic United States air carrier or a United States-flag…
  • FAR 52.250-4 SAFETY Act Pre-qualification Designation Notice.
    …fied by the Secretary of Homeland Security: (1) Is unlawful. (2) Causes harm, including financial harm, to a person, property, or entity, in the United States, or in the case of a domestic United States air carrier or a United States-flag…
  • FAR 52.250-5 SAFETY Act—Equitable Adjustment.
    …fied by the Secretary of Homeland Security: (1) Is unlawful. (2) Causes harm, including financial harm, to a person, property, or entity, in the United States, or in the case of a domestic United States air carrier or a United States-flag…
  • DFARS 237.7204 Format and clauses for educational service agreements.
    …. Withdrawal of students. (a) The Government may, at its option and at any time, withdraw financial support for any student by issuing official orders. The Government will furnish ________ copies of the orders to the Contractor within a rea…

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.