Liquidation rates-ordinary method.

Federal Acquisition Regulations System 1 2023-10-01 2023-10-01 false Liquidation rates-ordinary method. 32.503-8 Section 32.503-8 Federal Acquisition Regulations System FEDERAL ACQUISITION REGULATION GENERAL CONTRACTING REQUIREMENTS CONTRACT FINANCING Progress Payments Based on Costs 32.503–8 Liquidation rates—ordinary method. The Government recoups progress payments through the deduction of liquidations from payments that would otherwise be due to the contractor for completed contract items. To determine the amount of the liquidation, the contracting officer applies a liquidation rate to the contract price of contract items delivered and accepted. The ordinary method is that the liquidation rate is the same as the progress payment rate. At the beginning of a contract, the contracting officer must use this method. [65 FR 16280, Mar. 27, 2000]