GroundRules
48 CFR 1602.170-10: 1602.170-10 Letter of credit.
Where this section sits in the code
- Title 48—Federal Acquisition Regulations System
- CHAPTER 16—OFFICE OF PERSONNEL MANAGEMENT FEDERAL EMPLOYEES HEALTH BENEFITS ACQUISITION REGULATION
- SUBCHAPTER A—GENERAL
- PART 1602—DEFINITIONS OF WORDS AND TERMS
- Subpart 1602.1—Definitions of FEHBP Terms
Letter of credit means the method by which certain carriers, and their underwriters if authorized, receive recurring premium payments and contingency reserve payments by drawing against a commitment (certified by a responsible OPM official) which specifies a dollar amount available. For each carrier participating in the letter of credit arrangement for payment under this part, the terms “carrier reserves,” and “special reserves” include any balance in the carrier's letter of credit account.
Collected 2026-08-27T02:26:29Z. Source file · JSON