18.124
Electronic funds transfer
EFT payment requirements can be waived for acquisitions supporting unusual and compelling needs or emergencies, streamlining urgent procurement actions.
Overview
FAR 18.124 allows agencies to waive the requirement for electronic funds transfer (EFT) payments in situations involving unusual and compelling needs or emergency acquisitions. This flexibility is designed to expedite procurement and payment processes during urgent circumstances where standard EFT procedures may not be feasible or practical. The section references FAR 32.1103(e) for further guidance on EFT waivers, ensuring that contracting officers understand when and how such waivers can be applied.
Key Rules
- EFT Payment Waiver
- Agencies may waive EFT payment requirements for acquisitions supporting unusual and compelling needs or emergencies.
- Reference to Additional Guidance
- Contracting officers should consult FAR 32.1103(e) for detailed procedures and conditions for granting EFT waivers.
Responsibilities
- Contracting Officers: Assess if the acquisition qualifies for an EFT waiver, document the justification, and follow procedures outlined in FAR 32.1103(e).
- Contractors: Be aware that payment may be made by means other than EFT in urgent or emergency situations.
- Agencies: Ensure proper oversight and documentation when waiving EFT requirements.
Practical Implications
- This section exists to provide payment flexibility during emergencies or when urgent needs arise, allowing for faster procurement and payment processes.
- It impacts daily contracting by enabling exceptions to standard payment methods, which can be critical in time-sensitive situations.
- Common pitfalls include failing to properly document the justification for the waiver or not following the referenced procedures in FAR 32.1103(e).