{"data":{"id":"us/48-cfr-232.1003-70","jurisdiction":"us","citation":"48 CFR 232.1003-70","heading":"232.1003-70 Criteria for use.","body":"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.","path":["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"],"source_url":"https://www.ecfr.gov/api/versioner/v1/full/2026-08-25/title-48.xml","current_through":"2026-08-25","vintage":"","retrieved_at":"2026-08-27T02:26:29Z","sha256":"ee4cb3896045129bd43ea73a9e9df0ab3b040c43c11f8f64a6ab53861588ed1c","source_id":"us-cfr","stale":true,"prev":"us/48-cfr-232.1001","next":"us/48-cfr-232.1004"},"notice":"GroundRules: Original legal text. Not legal advice."}