32.607-1
Installment payments
Contractors seeking installment payment agreements must submit a formal written request to the designated office as directed by the contracting officer.
Overview
FAR 32.607-1 outlines the process for contractors who wish to request installment payment agreements for debts owed to the government. If a contractor expresses interest in paying a debt through installments, the contracting officer is required to instruct the contractor to submit a formal, written request to the appropriate office as specified by agency procedures. This ensures that requests are properly documented and routed for review and approval according to established protocols.
Key Rules
- Contractor Request for Installment Payments
- Contractors must submit a written request if they seek to pay a debt in installments.
- Contracting Officer Notification
- The contracting officer must direct the contractor to send the written request to the office designated by agency procedures.
Responsibilities
- Contracting Officers: Must notify contractors of the correct process and ensure requests are sent to the proper office.
- Contractors: Must prepare and submit a written request for installment payments as directed.
- Agencies: Must have clear procedures and designated offices for handling installment payment requests.
Practical Implications
- This section ensures a standardized process for handling installment payment requests, reducing confusion and ensuring accountability.
- Contractors should be aware that informal requests are insufficient; formal written requests are mandatory.
- Failure to follow the correct process may delay or jeopardize approval of installment payment arrangements.