FAR 32.703-1 General
Subsection Federal Acquisition Regulation
Facts
- Citation
- FAR 32.703-1
- Type
- Subsection
- 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
(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.
Quick answers
What is FAR 32.703-1?
FAR 32.703-1 is a subsection of the Federal Acquisition Regulation, titled "General".
Are changes to FAR 32.703-1 proposed?
No proposed rule from the last 3 years is waiting on a final rule.
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