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Code of Federal Regulations (Last Updated: July 5, 2024) |
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Title 48 - Federal Acquisition Regulations System |
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Chapter 8 - Department of Veterans Affairs |
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SubChapter D - Socioeconomic Programs |
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Part 819 - Small Business Programs |
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Subpart 819.2 - Policies |
§ 819.202-1 - Encouraging small business participation in acquisitions.
Latest version.
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819.202-1 Encouraging small business participation in acquisitions.
Contracting officers may negotiate payment terms of less than 30 calendar days to encourage small business participation. A period of less than 7 days may not be prescribed (see FAR 32.908(c)(2)). The contracting officer and the local fiscal officer must be in agreement on the negotiated payment terms before awarding the contract.