48 CFR 32.501-5 -

Regulations last checked for updates: Apr 25, 2024

Title 48 - Federal Acquisition Regulations System last revised: Apr 22, 2024

View all text of Subpart 32.5 [32.500 - 32.504]

32.501-5 -

If the contracting officer considers it necessary for protection of the Government's interest, protective terms such as the following may be used in addition to the Progress Payments clause of the contract:

(a) Personal or corporate guarantees.

(b) Subordinations or standbys of indebtedness.

(d) Protective covenants of the kinds in paragraph (p) of the clause at 52.232-12, Advance Payments.

(e) A provision, included in the solicitation and resultant contract when first article testing is required (see subpart 9.3), limiting progress payments on first article work by a stated amount or percentage.

[48 FR 42328, Sept. 19, 1983, as amended at 55 FR 52794, Dec. 21, 1990]

authority: 40 U.S.C. 121(c); 10 U.S.C. chapter 4 and 10 U.S.C. chapter 137 legacy provisions (see 10 U.S.C. 3016); and 51 U.S.C. 20113.

source: 48 FR 42328, Sept. 19, 1983, unless otherwise noted.

cite as: 48 CFR 32.501-5