FAR 32.902 Definitions
Section Federal Acquisition Regulation
Facts
- Citation
- FAR 32.902
- Type
- Section
- Last amended
- 66 FR 53485 Effective Oct 22, 2001
- 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 section.
Text
As used in this subpart-
Discount for prompt payment means an invoice payment reduction offered by the contractor for payment prior to the due date.
Mixed invoice means an invoice that contains items with different payment due dates.
Payment date means the date on which a check for payment is dated or, for an electronic funds transfer (EFT), the settlement date.
Settlement date, as it applies to electronic funds transfer, means the date on which an electronic funds transfer payment is credited to the contractor’s financial institution.
Federal Register history
Terms defined
- Discount for prompt payment
- Mixed invoice
- Payment date
- Settlement date
Quick answers
What is FAR 32.902?
FAR 32.902 is a section of the Federal Acquisition Regulation, titled "Definitions".
When was FAR 32.902 last changed?
The most recent final rule on record is "Federal Acquisition Regulation; Prompt Payment Under Cost-Reimbursement Contracts for Services" (66 FR 53485), published Oct 22, 2001 and effective Oct 22, 2001.
Are changes to FAR 32.902 proposed?
No proposed rule from the last 3 years is waiting on a final rule.
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