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Tool Name: AI-Powered FAR Navigator Tool by CLEATUS AI
Purpose: To simplify and accelerate the process of understanding the Federal Acquisition Regulation (FAR) for government contractors.
Key Features:
- Provides AI-generated, plain-English summaries for all FAR clauses.
- Highlights relationships and dependencies between different FAR sections and clauses.
- Offers a searchable, browsable, and interactive interface for the entire FAR document.
- Includes a free-to-use search and navigation tool.
Target Audience: Small-to-mid-sized government contractors, proposal writers, and compliance officers who need to quickly understand FAR requirements.
Primary Benefit: Reduces the time and effort required to interpret complex legal and regulatory language, improving efficiency and compliance.

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32.108 - Financial consultation | FAR Navigator

32.108

Financial consultation

Contracting officers must consult qualified financial personnel when evaluating a contractor's financial capability or determining appropriate contract financing.

Overview

FAR 32.108 emphasizes the importance of utilizing qualified contract financing personnel when addressing financial matters in government contracting. Contracting offices are encouraged to have access to experts who can assess credit and financial issues, ensuring that decisions regarding an offeror’s or contractor’s financial capability and the appropriate form of contract financing are well-informed. The regulation directs contracting officers to consult with the contract financing office whenever there are questions about a contractor’s ability to perform financially or about which financing method to use. This approach helps mitigate financial risks and supports sound acquisition decisions.

Key Rules

Use of Qualified Financial Personnel
- Contracting offices should have access to and use competent contract financing personnel for evaluating financial and credit issues.
Consultation Requirement
- Contracting officers must consult the contract financing office when questions arise about a contractor’s financial capability or the appropriate form of contract financing.

Responsibilities

Contracting Officers: Must seek advice from contract financing experts when facing financial capability or financing method questions.
Contractors: Should be prepared for financial scrutiny and provide necessary information to support evaluations.
Agencies: Should ensure access to qualified financial consultation resources for contracting staff.

Practical Implications

This section exists to ensure financial due diligence and risk mitigation in contract awards and administration.
It impacts daily contracting by requiring expert input on financial matters, reducing the risk of contractor default or inappropriate financing choices.
Common pitfalls include failing to consult financial experts, leading to poor contract performance or financial losses.

General Contracts

Consult contract financing office when evaluating a contractor’s financial capability.

Ensure contracting office has access to competent contract financing resources.

Seek advice from qualified financial personnel on appropriate contract financing methods.

References done in this section

32.1Financing for Other Than a Commercial Purchase

32.108

Financial consultation

Contracting officers must consult qualified financial personnel when evaluating a contractor's financial capability or determining appropriate contract financing.

Overview

Key Rules

Use of Qualified Financial Personnel
- Contracting offices should have access to and use competent contract financing personnel for evaluating financial and credit issues.
Consultation Requirement
- Contracting officers must consult the contract financing office when questions arise about a contractor’s financial capability or the appropriate form of contract financing.

Responsibilities

Contracting Officers: Must seek advice from contract financing experts when facing financial capability or financing method questions.
Contractors: Should be prepared for financial scrutiny and provide necessary information to support evaluations.
Agencies: Should ensure access to qualified financial consultation resources for contracting staff.

Practical Implications

This section exists to ensure financial due diligence and risk mitigation in contract awards and administration.
It impacts daily contracting by requiring expert input on financial matters, reducing the risk of contractor default or inappropriate financing choices.
Common pitfalls include failing to consult financial experts, leading to poor contract performance or financial losses.

General Contracts

Consult contract financing office when evaluating a contractor’s financial capability.

Ensure contracting office has access to competent contract financing resources.

Seek advice from qualified financial personnel on appropriate contract financing methods.

References done in this section

32.1Financing for Other Than a Commercial Purchase

32.108

Financial consultation

Contracting officers must consult qualified financial personnel when evaluating a contractor's financial capability or determining appropriate contract financing.

Overview

Key Rules

Use of Qualified Financial Personnel
- Contracting offices should have access to and use competent contract financing personnel for evaluating financial and credit issues.
Consultation Requirement
- Contracting officers must consult the contract financing office when questions arise about a contractor’s financial capability or the appropriate form of contract financing.

Responsibilities

Contracting Officers: Must seek advice from contract financing experts when facing financial capability or financing method questions.
Contractors: Should be prepared for financial scrutiny and provide necessary information to support evaluations.
Agencies: Should ensure access to qualified financial consultation resources for contracting staff.

Practical Implications

This section exists to ensure financial due diligence and risk mitigation in contract awards and administration.
It impacts daily contracting by requiring expert input on financial matters, reducing the risk of contractor default or inappropriate financing choices.
Common pitfalls include failing to consult financial experts, leading to poor contract performance or financial losses.

32.108

Financial consultation

Contracting officers must consult qualified financial personnel when evaluating a contractor's financial capability or determining appropriate contract financing.

Overview

Key Rules

Use of Qualified Financial Personnel
- Contracting offices should have access to and use competent contract financing personnel for evaluating financial and credit issues.
Consultation Requirement
- Contracting officers must consult the contract financing office when questions arise about a contractor’s financial capability or the appropriate form of contract financing.

Responsibilities

Contracting Officers: Must seek advice from contract financing experts when facing financial capability or financing method questions.
Contractors: Should be prepared for financial scrutiny and provide necessary information to support evaluations.
Agencies: Should ensure access to qualified financial consultation resources for contracting staff.

Practical Implications

This section exists to ensure financial due diligence and risk mitigation in contract awards and administration.
It impacts daily contracting by requiring expert input on financial matters, reducing the risk of contractor default or inappropriate financing choices.
Common pitfalls include failing to consult financial experts, leading to poor contract performance or financial losses.

32.108

Financial consultation

Contracting officers must consult qualified financial personnel when evaluating a contractor's financial capability or determining appropriate contract financing.

Overview

Key Rules

Use of Qualified Financial Personnel
- Contracting offices should have access to and use competent contract financing personnel for evaluating financial and credit issues.
Consultation Requirement
- Contracting officers must consult the contract financing office when questions arise about a contractor’s financial capability or the appropriate form of contract financing.

Responsibilities

Contracting Officers: Must seek advice from contract financing experts when facing financial capability or financing method questions.
Contractors: Should be prepared for financial scrutiny and provide necessary information to support evaluations.
Agencies: Should ensure access to qualified financial consultation resources for contracting staff.

Practical Implications

This section exists to ensure financial due diligence and risk mitigation in contract awards and administration.
It impacts daily contracting by requiring expert input on financial matters, reducing the risk of contractor default or inappropriate financing choices.
Common pitfalls include failing to consult financial experts, leading to poor contract performance or financial losses.

32.108

Financial consultation

Contracting officers must consult qualified financial personnel when evaluating a contractor's financial capability or determining appropriate contract financing.

Overview

Key Rules

Use of Qualified Financial Personnel
- Contracting offices should have access to and use competent contract financing personnel for evaluating financial and credit issues.
Consultation Requirement
- Contracting officers must consult the contract financing office when questions arise about a contractor’s financial capability or the appropriate form of contract financing.

Responsibilities

Contracting Officers: Must seek advice from contract financing experts when facing financial capability or financing method questions.
Contractors: Should be prepared for financial scrutiny and provide necessary information to support evaluations.
Agencies: Should ensure access to qualified financial consultation resources for contracting staff.

Practical Implications

This section exists to ensure financial due diligence and risk mitigation in contract awards and administration.
It impacts daily contracting by requiring expert input on financial matters, reducing the risk of contractor default or inappropriate financing choices.
Common pitfalls include failing to consult financial experts, leading to poor contract performance or financial losses.

Features

Win more contracts with AI-powered tools and comprehensive market intelligence

Overview

Key Rules

Responsibilities

Practical Implications

Applicability

Compliance

Key Terms

Cross References

Overview

Key Rules

Responsibilities

Practical Implications

Applicability

Compliance

Key Terms

Cross References

Overview

Key Rules

Responsibilities

Practical Implications

Overview

Key Rules

Responsibilities

Practical Implications

Overview

Key Rules

Responsibilities

Practical Implications

Overview

Key Rules

Responsibilities

Practical Implications