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PGI 232.470: Advance payment pool.

PGI › Part 232 › PGI 232.470

This PGI section supplements: DFARS 232.470 · FAR 32.470
The corresponding FAR Part 32 and DFARS Part 232 have been overhauled under the RFO. PGI replacement text is provided in the RFO deviation attachment. View FAR Part 32

Current Content

(a) An advance payment pool agreement—

(1) Is a means of financing the performance of more than one contract held by a single contractor;

(2) Is especially convenient for the financing of cost-type contracts with nonprofit educational or research institutions for experimental or research and development work when several contracts require financing by advance payments. When appropriate, pooled advance payments may also be used to finance other types of contracts held by a single contractor; and

(3) May be established—

(i) Without regard to the number of appropriations involved;

(ii) To finance contracts for one or more department(s) or contracting activity(ies); or

(iii) In addition to any other advance payment pool agreement at a single contractor location when it is more convenient or otherwise preferable to have more than one agreement.

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