(a) If payment is to be provided by LOC, the contract must contain the clause in 752.232-70.
(b) Contracting officers must ensure that an appropriate (48 CFR) FAR payment clause is also inserted in the contract, in the event that the LOC is revoked pursuant to 732.406-74.
[79 FR 74995, Dec. 16, 2014]
authority: Sec. 621, Pub. L. 87-195, 75 Stat. 445, (
22 U.S.C. 2381) as amended; E.O. 12163, Sept. 29, 1979, 44 FR 56673; 3 CFR, 1979 Comp., p. 435
cite as: 48 CFR 732.406-73