48 C.F.R. § 32.802

32.802 Conditions.

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Under the Assignment of Claims Act, a contractor may assign moneys due or to become due under a contract if all the following conditions are met:

(a) The contract specifies payments aggregating $1,000 or more.

(b) The assignment is made to a bank, trust company, or other financing institution, including any Federal lending agency.

(d) Unless otherwise expressly permitted in the contract, the assignment—

(1) Covers all unpaid amounts payable under the contract;

(2) Is made only to one party, except that any assignment may be made to one party as agent or trustee for two or more parties participating in the financing of the contract; and

(3) Is not subject to further assignment.

(e) The assignee sends a written notice of assignment together with a true copy of the assignment instrument to the—

(1) Contracting officer or the agency head;

(2) Surety on any bond applicable to the contract; and

(3) Disbursing officer designated in the contract to make payment.

Notes of Decisions

Cited in 1 case, 2000–2000 · leading case: Banco Bilbao Vizcaya-Puerto Rico v. United States, 48 Fed. Cl. 29 (Fed. Cl. 2000).

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Banco Bilbao Vizcaya-Puerto Rico v. United States, 48 Fed. Cl. 29 (Fed. Cl. 2000). · cites it 2× “In addition to echoing these requirements, see 48 C.F.R. § 32.802 , the FAR provides some additional requirements, including: assignments from corporations must be executed by an authorized representative, attested by the secretary or assistant secretary of the corporation, and…”

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