48 CFR § 32.301 - 32.301 Definitions.
---
identifier: "/us/cfr/t48/s32.301"
source: "ecfr"
legal_status: "authoritative_unofficial"
title: "48 CFR § 32.301 - 32.301 Definitions."
title_number: 48
title_name: "Federal Acquisition Regulations System"
section_number: "32.301"
section_name: "32.301 Definitions."
chapter_number: 1
chapter_name: "FEDERAL ACQUISITION REGULATION"
subchapter_number: "E"
subchapter_name: "GENERAL CONTRACTING REQUIREMENTS"
part_number: "32"
part_name: "CONTRACT FINANCING"
positive_law: false
currency: "2026-03-24"
last_updated: "2026-03-24"
format_version: "1.1.0"
generator: "[email protected]"
authority: "41 U.S.C. 1121(b); 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."
regulatory_source: "48 FR 42328, Sept. 19, 1983, unless otherwise noted."
cfr_part: "32"
---
# 32.301 32.301 Definitions.
As used in this subpart—
*Borrower* means a contractor, subcontractor (at any tier), or other supplier who receives a guaranteed loan.
*Federal Reserve Board* means the Board of Governors of the Federal Reserve System.
*Guaranteed loan* or *V loan* means a loan, revolving credit fund, or other financial arrangement made pursuant to Regulation V of the Federal Reserve Board, under which the guaranteeing agency is obligated, on demand of the lender, to purchase a stated percentage of the loan and to share any losses in the amount of the guaranteed percentage.
*Guaranteeing agency* means any agency that the President has authorized to guarantee loans, through Federal Reserve Banks, for expediting national defense production.
[48 FR 42328, Sept. 19, 1983, as amended at 66 FR 2132, Jan. 10, 2001]