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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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39 sections with “financial review”

  • DFARS 232.072-1 Required financial reviews.
    The contracting officer shall perform a financial review when the contracting officer does not otherwise have sufficient information to make a positive determination of financial responsibility. In addition, the contracting officer shall co…
  • 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 32.503-2 Supervision of progress payments.
    … the contractor's experience, performance record, reliability, quality of management, and financial strength, and with the adequacy of the contractor's accounting system and controls. Supervision shall be of a kind and degree sufficient to …
  • FAR 32.503-3 Initiation of progress payments and review of accounting system.
    …erformance, (2) possessed of an adequate accounting system and controls, and (3) in sound financial condition, progress payments in amounts requested by the contractor should be approved as a matter of course. (b) For all other contractors…
  • DFARS 215.407-5-70 Disclosure, maintenance, and review requirements.
    …ated with the contractor's related management systems; and (iv) Is subject to applicable financial control systems. Contractor means a business unit as defined in FAR 2.101. Estimating system means the contractor's policies, procedures, …
  • FAR 3.1103 Procedures.
    …t might be affected by the task to which the employee has been assigned, as follows: (A) Financial interests of the covered employee, of close family members, or of other members of the covered employee's household. (B) Other employment o…
  • FAR 32.607 Installment payments and deferment of collection.
    …a specific schedule or plan for payment. It should permit the Government to make periodic financial reviews of the contractor and to require payments earlier than required by the agreement if the Government considers the contractor's abilit…
  • 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 50.104-3 Special procedures for unusually hazardous or nuclear risks.
    …surance coverage. (iv) The controlling or limiting factors for determining the amount of financial protection the contractor is to provide and maintain, with information regarding the availability, cost, and terms of additional insurance o…
  • FAR 31.205-6 Compensation for personal services.
    …diate families; and (B) Persons who are contractually committed to acquire a substantial financial interest in the contractor's enterprise. (ii) For these individuals, compensation must— (A) Be reasonable for the personal services render…
  • FAR 32.207 Administration and payment of commercial financing payments.
    …sponsible for determining that the security continues to be adequate. If the contractor's financial condition is the Government's security, this contracting officer is also responsible for monitoring the contractor's financial condition.
  • FAR 42.902 Procedures.
    …e of bankruptcy to legal counsel and other appropriate agency offices (e.g., contracting, financial, property) and affected buying activities; (2) Determine the amount of the Government's potential claim against the contractor (in assessin…
  • FAR 52.204-13 System for Award Management Maintenance.
    …uded from receiving Federal contracts, certain subcontracts, and certain types of Federal financial and non-financial assistance and benefits. Unique entity identifier means a number or other identifier used to identify a specific commerci…
  • FAR 52.216-7 Allowable Cost and Payment.
    …here the procedures have not changed from the previous year's submission). (F) Certified financial statements and other financial data (e.g., trial balance, compilation, review, etc.). (G) Management letter from outside CPAs concerning an…
  • FAR 52.232-16 Progress Payments.
    …act is endangered by the Contractor's (i) failure to make progress or (ii) unsatisfactory financial condition. (3) Inventory allocated to this contract substantially exceeds reasonable requirements. (4) The Contractor is delinquent in pay…
  • FAR 52.245-1 Government Property.
    …urse the Government for loss of Government property, to the extent that the Contractor is financially liable for such loss, as directed by the Contracting Officer. (5) Upon the request of the Contracting Officer, the Contractor shall, at t…
  • DFARS 253.209-1 Responsible prospective contractors.
    …pective contractor's quality assurance system, personnel, facilities, and equipment. (D) Financial capability. A determination that the prospective contractor has or can get adequate financial resources to obtain needed facilities, equipme…
  • FAR 7.105 Contents of written acquisition plans.
    …f the requirements, uncertain duration of the work, contractor's technical capability and financial responsibility, or adequacy of the contractor's accounting system), and associated reasoning essential to support the contract type selectio…
  • FAR 9.506 Procedures.
    …s include publications and commercial services, such as credit rating services, trade and financial journals, and business directories and registers. (b) If the contracting officer decides that a particular acquisition involves a significa…
  • FAR 15.404-2 Data to support proposal analysis.
    …to the auditor by the contracting officer. (4) General access to the offeror's books and financial records is limited to the auditor. This limitation does not preclude the contracting officer or the ACO, or their representatives, from requ…
  • FAR 15.407-1 Defective certified cost or pricing data.
    …r the clauses prescribed in 15.408(b) and (c). The Government has a continuing and direct financial interest in such payments that is unaffected by the initial agreement on prime contract price.
  • FAR 16.703 Basic ordering agreements.
    …is compelling and unusually urgent (i.e., when the Government would be seriously injured, financially or otherwise, if the requirement is not met sooner than would be possible if prices were established before the work began). The contracti…
  • FAR 19.804-3 SBA acceptance.
    …development needs, compliance with competitive business mix requirements (if applicable), financial condition, management ability, technical capability, and whether award will promote the equitable distribution of 8(a) contracts. (For const…
  • FAR 32.006-4 Procedures.
    …nticipated loss to the Government as a result of the fraud; (3) The contractor's overall financial condition and ability to continue performance if payments are reduced or suspended; (4) The contractor's essentiality to the national defen…
  • 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 32.1007 Administration and payment of performance-based payments.
    …ing officer should consider the contractor's experience, performance record, reliability, financial strength, and the adequacy of controls established by the contractor for the administration of performance-based payments. Based upon the ri…
  • FAR 42.302 Contract administration functions.
    … of the estimated cost under cost-reimbursement contracts. (17) Monitor the contractor's financial condition and advise the contracting officer when it jeopardizes contract performance. (18) Analyze quarterly limitation on payments statem…
  • FAR 49.107 Audit of prime contract settlement proposals and subcontract settlements.
    …ment and orderly administration; or (iv) The contractor has a substantial or controlling financial interest in the subcontractor. (2) The audit agency should avoid duplication of accounting reviews performed by the upper tier contractor o…
  • FAR 52.242-4 Certification of Final Indirect Costs.
    …idual of the Contractor's organization at a level no lower than a vice president or chief financial officer of the business segment of the Contractor that submits the proposal. (b) Failure by the Contractor to submit a signed certificate, …
  • FAR 52.246-26 Reporting Nonconforming Items.
    …(b)(4) of this clause shall not include— (1) Trade secrets or confidential commercial or financial information protected under the Trade Secrets Act (18 U.S.C. 1905); or (2) Any other information prohibited from disclosure by statute or r…
  • 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…
  • DFARS 231.205-70 External restructuring costs.
    …ncurred (e.g., planning and analysis, contract administration and oversight, or recurring financial and administrative support). (4) Restructuring costs means the costs, including both direct and indirect, of restructuring activities. Rest…
  • 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…
  • DFARS 252.204-7012 Safeguarding Covered Defense Information and Cyber Incident Reporting.
    … locations), personally identifiable information, as well as trade secrets, commercial or financial information, or other commercially sensitive information that is not customarily shared outside of the company. Controlled technical inform…
  • DFARS 252.204-7020 NIST SP 800-171 DoD Assessment Requirements.
    … the Freedom of Information Act (e.g., Exemption 4 covers trade secrets and commercial or financial information obtained from a contractor that is privileged or confidential). (g) Subcontracts. (1) The Contractor shall insert the substance…
  • DFARS 252.215-7002 Cost Estimating System Requirements.
    …rated with the Contractor's related management systems; and (4) Is subject to applicable financial control systems. Estimating system means the Contractor's policies, procedures, and practices for budgeting and planning controls, and gene…
  • DFARS 252.242-7006 Accounting System Administration.
    … gather, record, classify, analyze, summarize, interpret, and present accurate and timely financial data for reporting in compliance with applicable laws, regulations, and management decisions, and may include subsystems for specific areas …
  • DFARS 252.244-7001 Contractor Purchasing System Administration.
    … from contract award; (8) Evaluate price, quality, delivery, technical capabilities, and financial capabilities of competing vendors to ensure fair and reasonable prices; (9) Require management level justification and adequate cost or pri…

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.