48 CFR § 32.502-2 - 32.502-2 Contract finance office clearance.

---
identifier: "/us/cfr/t48/s32.502-2"
source: "ecfr"
legal_status: "authoritative_unofficial"
title: "48 CFR § 32.502-2 - 32.502-2   Contract finance office clearance."
title_number: 48
title_name: "Federal Acquisition Regulations System"
section_number: "32.502-2"
section_name: "32.502-2   Contract finance office clearance."
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: "2026-04-05"
last_updated: "2026-04-05"
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"
---


# 32.502-2 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:

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

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

(c) Providing progress payments to a contractor—

(1) Whose financial condition is in doubt;

(2) Who has had an advance payment request or loan guarantee denied for financial reasons (or approved but withdrawn or lapsed) within the previous 12 months; or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) Who is named in the consolidated list of contractors indebted to the United States (known commonly as the *Hold-up List*).