# 32.502-2 Contract finance office clearance.

The contracting officer shall obtain the approval of the contract finance office or other offices designated under agency procedures before taking any of the following actions:

1. (a) Providing a progress payment rate higher than the customary rate (see 32.501-1).

2. (b) Deviating from the progress payments terms prescribed in this part.

3. (c) Providing progress payments to a contractor-

   1. (1) Whose financial condition is in doubt;

   2. (2) Who has had an advance payment request or loan guarantee denied for financial reasons (or approved but withdrawn or lapsed) within the previous 12 months; or

   3. (3) Who is named in the consolidated list of contractors indebted to the United States (known commonly as the “Hold-up List”).