[Federal Register Volume 60, Number 50 (Wednesday, March 15, 1995)]
[Notices]
[Page 14171]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 95-6293]
Federal Register / Vol. 60, No. 50 / Wednesday, March 15, 1995 /
Notices
[[Page 14171]]
DEPARTMENT OF DEFENSE
GENERAL SERVICES ADMINISTRATION
NATIONAL AERONAUTICS AND SPACE ADMINISTRATION
[FAR Case 94-764]
OMB Clearance Request for Contract Financing
AGENCIES: Department of Defense (DOD), General Services Administration
(GSA), and National Aeronautics and Space Administration (NASA).
ACTION: Notice of new request for OMB clearance.
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SUMMARY: Under the provisions of the Paperwork Reduction Act of 1980
(44 U.S.C. 3501), the Federal Acquisition Regulation (FAR) Secretariat
has submitted to the Office of Management and Budget (OMB) a request to
review and approve a new information collection requirement concerning
Contract Financing.
DATES: Comments may be submitted on or before May 15, 1995.
ADDRESSES: Send comments to Mr. Peter Weiss, FAR Desk Officer, OMB,
Room 10236, NEOB, Washington, DC 20503.
FOR FURTHER INFORMATION CONTACT: Beverly Fayson, Office of Federal
Acquisition Policy, GSA (202) 501-4755.
SUPPLEMENTARY INFORMATION:
A. Purpose
The Federal Acquisition Streamlining Act of 1994, Pub. L. 103-355,
provides authorities that streamline the acquisition process and
minimize burdensome government-unique requirements. Sections 2001 and
2051 of the Federal Acquisition Streamlining Act of 1994 substantially
changed the statutory authorities for Government financing of
contracts. Sections 2001(f) and 2051(e) provide specific authority for
Government financing of purchases of commercial items, and sections
2001(b) and 2051(b) substantially revised the authority for Government
financing of purchases of non-commercial items.
Sections 2001(f) and 2051(e) provide specific authority for
Government financing of purchases of commercial items. These paragraphs
authorize the Government to provide contract financing with certain
limitations:
The financing must be in the best interest of the
Government,
The financing cannot exceed 15 percent until some
performance of work under the contract,
The terms and conditions must be appropriate or customary
in the commercial marketplace.
The above statutory provisions also remove from financing of
commercial purchases certain restrictions applicable to financing of
non-commercial purchases by other provisions of 10 U.S.C. 2307 and 41
U.S.C. 255.
Sections 2001(b) and 2051(b) also amend the authority for
Government financing of non-commercial purchases by authorizing
financing on the basis of certain classes of measures of performance.
To implement these changes, DOD, NASA, and GSA propose to amend the
Federal Acquisition Regulation by revising Subparts 32.0, 32.1, and
32.5; by adding new Subparts 32.2 and 32.10; and by adding new clauses
to 52.232. The statutory changes create a fundamental distinction
between financing of purchases of commercial and non-commercial items.
As a result, the subparts of Part 32, Contract Financing, fall into
three logical categories:
Subparts applicable to both commercial and non-commercial
financing,
Subparts applicable to only commercial financing, and
Subparts applicable to only non-commercial financing.
The proposed rule will enable the Government to provide financing
to assist in the performance of contracts for commercial items and
provide financing for non-commercial items based on contractor
performance.
B. Annual Reporting Burden
Public reporting burden for this collection of information is
estimated to average 1 hour per request for commercial financing and .5
hours per request for performance-based financing, including the time
for reviewing instructions, searching existing data sources, gathering
and maintaining the data needed, and completing and reviewing the
collection of information. Send comments regarding this burden estimate
or any other aspect of this collection of information, including
suggestions for reducing this burden, to General Services
Administration, FAR Secretariat, 18th & F Streets, NW, Room 4037,
Washington, DC 20405, and to the FAR Desk Officer, Office of
Information and Regulatory Affairs, Office of Management and Budget,
Washington, DC 20503.
The annual reporting burden for Commercial Financing is estimated
as follows: Respondents, 1,000; responses per respondent, 5; total
annual responses, 5,000; preparation hours per response, 1; and total
response burden hours, 5,000.
The annual reporting burden for Performance-Based Financing is
estimated as follows: Respondents, 6,000; responses per respondent, 32;
total annual responses, 192,000; preparation hours per response, .5;
and total response burden hours, 96,000.
OBTAINING COPIES OF PROPOSALS: Requester may obtain copies of OMB
applications or justifications from the General Services
Administration, FAR Secretariat (VRS), Room 4037, Washington, DC 20405,
telephone (202) 501-4755. Please cite OMB clearance request regarding
Contract Financing, FAR case 94-764, in all correspondence.
Dated: March 9, 1995.
Beverly Fayson,
FAR Secretariat.
[FR Doc. 95-6293 Filed 3-14-95; 8:45 am]
BILLING CODE 6820-34-P
