Subpart 532.5 - Progress Payments Based on Costs
532.501-2 Unusual progress payments.
The HCA must approve or disapprove requests for “unusual” progress payments.
532.502 Preaward matters.
532.502-2 Contract finance office clearance.
Before providing for progress payments based on costs, the contracting officer shall request the Office of the Chief Financial Officer to provide advice and assistance about a contractor’s financial condition and the adequacy of its accounting system and controls.
532.503-5 Administration of progress payments.
The contracting officer shall ensure that the contract finance office provides to the contracting office:
(a) The date and amount of each progress payment to a contractor; and
(b) Written recommendations if findings warrant action by the Government.
532.503-6 Suspension or reduction of payments.
The HCA must approve any action recommended under FAR 32.503-6. Upon approval, the contracting officer shall request the contract finance office to suspend or reduce payments.
532.503-9 Liquidation rates—alternate method.
Reduction of the liquidation rates specified in paragraph (b) of FAR 52.232-16 may be made only with the contracting officer’s approval after coordination with the contract finance office. Upon approval, the contracting officer shall request the finance office to reduce the rate.