GroundRules
48 CFR 232.1003-70: 232.1003-70 Criteria for use.
Where this section sits in the code
- Title 48—Federal Acquisition Regulations System
- CHAPTER 2—DEFENSE ACQUISITION REGULATIONS SYSTEM, DEPARTMENT OF DEFENSE
- SUBCHAPTER E—GENERAL CONTRACTING REQUIREMENTS
- PART 232—CONTRACT FINANCING
- Subpart 232.10—Performance-Based Payments
In accordance with 10 U.S.C. 3802(c)(1), a contractor's financial statements shall be in compliance with Generally Accepted Accounting Principles in order to receive performance-based payments. 10 U.S.C. 3802(c)(2) specifies that it does not grant the Defense Contract Audit Agency the authority to audit compliance with Generally Accepted Accounting Principles.
Collected 2026-08-27T02:26:29Z. Source file · JSON