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Current as of October 02, 2022 | Updated by FindLaw Staff
(a) Contract debts are amounts that—
(1) Have been paid to a contractor to which the contractor is not currently entitled under the terms and conditions of the contract; or
(2) Are otherwise due from the contractor under the terms and conditions of the contract.
(b) Contract debts include, but are not limited to, the following:
(1) Billing and price reductions resulting from contract terms for price redetermination or for determination of prices under incentive type contracts.
(2) Price or cost reductions for defective certified cost or pricing data.
(3) Financing payments determined to be in excess of the contract limitations at 52.232–16(a)(7), Progress Payments, or 52.232–32(d)(2), Performance—Based Payments, or any contract clause for commercial item financing.
(4) Increases to financing payment liquidation rates.
(5) Overpayments disclosed by quarterly statements required under price redetermination or incentive contracts.
(6) Price adjustments resulting from Cost Accounting Standards (CAS) noncompliances or changes in cost accounting practice.
(7) Reinspection costs for nonconforming supplies or services.
(8) Duplicate or erroneous payments.
(9) Damages or excess costs related to defaults in performance.
(10) Breach of contract obligations concerning progress payments, performance-based payments, advance payments, commercial item financing, or Government-furnished property.
(11) Government expense of correcting defects.
(12) Overpayments related to errors in quantity or billing or deficiencies in quality.
(13) Delinquency in contractor payments due under agreements or arrangements for deferral or postponement of collections.
(14) Reimbursement of amounts due under 33.102(b)(3) and 33.104(h)(8).
Cite this article: FindLaw.com - Code of Federal Regulations Title 48. Federal Acquisition Regulations System 48.32.601 General - last updated October 02, 2022 | https://codes.findlaw.com/cfr/title-48-federal-acquisition-regulations-system/cfr-48-32-601/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
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