FAR 32.503-8 Liquidation rates-ordinary method
Subsection Federal Acquisition Regulation
Facts
- Citation
- FAR 32.503-8
- Type
- Subsection
- Last amended
- 65 FR 16276 Effective Mar 27, 2000
- Text as of
- FAC 2026-01
- Official text
- acquisition.gov
Text from acquisition.gov. Federal Register history from the Federal Register's records of the rules that amended this subsection.
Text
The Government recoups progress payments through the deduction of liquidations from payments that would otherwise be due to the contractor for completed contract items. To determine the amount of the liquidation, the contracting officer applies a liquidation rate to the contract price of contract items delivered and accepted. The ordinary method is that the liquidation rate is the same as the progress payment rate. At the beginning of a contract, the contracting officer must use this method.
Federal Register history
| Final rule | Published | Effective |
|---|---|---|
| Federal Acquisition Regulation; Progress Payments and Related Financing Policies |
Quick answers
What is FAR 32.503-8?
FAR 32.503-8 is a subsection of the Federal Acquisition Regulation, titled "Liquidation rates-ordinary method".
When was FAR 32.503-8 last changed?
The most recent final rule on record is "Federal Acquisition Regulation; Progress Payments and Related Financing Policies" (65 FR 16276), published Mar 27, 2000 and effective Mar 27, 2000.
Are changes to FAR 32.503-8 proposed?
No proposed rule from the last 3 years is waiting on a final rule.
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