48 CFR § 32.703-1 - 32.703-1 General.

---
identifier: "/us/cfr/t48/s32.703-1"
source: "ecfr"
legal_status: "authoritative_unofficial"
title: "48 CFR § 32.703-1 - 32.703-1   General."
title_number: 48
title_name: "Federal Acquisition Regulations System"
section_number: "32.703-1"
section_name: "32.703-1   General."
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"
---


# 32.703-1 32.703-1   General.

(a) If the contract is fully funded, funds are obligated to cover the price or target price of a fixed-price contract or the estimated cost and any fee of a cost-reimbursement contract.

(b) If the contract is incrementally funded, funds are obligated to cover the amount allotted and any corresponding increment of fee.