(2) The time period “direct personal loan obligation” signifies a binding arrangement by a Federal company to make a immediate mortgage when specified ailments are fulfilled via the borrower.
These procurement procedures expedite the completion of transactions, decrease administrative burdens, and reduce expenses. Casual procurement procedures can be employed when the value of your procurement transaction under the Federal award will not exceed the simplified acquisition threshold as outlined in § two hundred.
signifies the prepared approval received ahead of time by a licensed official of a Federal company or move-by entity of specified expenditures or programmatic choices.
(b) In a few occasions, the amounts acquired within the Federal Govt to finance actions or company operations of your recipient or subrecipient must be taken care of as applicable credits.
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The combination greenback quantity of the procurement transaction is bigger than the micro-purchase threshold but isn't going to exceed the simplified acquisition threshold. If simplified acquisition methods are employed, cost or amount quotations have to read more be acquired from an adequate number of experienced sources.
(two) Be sure that the subrecipient will take corrective motion on all substantial developments that negatively affect the subaward. Important developments include Single Audit results relevant to the subaward, other audit findings, internet site visits, and prepared notifications from the subrecipient of adverse conditions that will affect their power to fulfill the milestones or maybe the targets of the subaward.
(5) Implements a method for any public function laid out in authorizing statute, versus furnishing goods or providers for the advantage of the pass-by way of entity.
usually means, for functions of § 200.330 or when Utilized in connection with the acquisition or enhancement of authentic assets, products, or supplies below a Federal award, the dollar volume that's the merchandise with the:
(i) In several partial payments. The quantity of Each individual payment together with the “milestone” or celebration triggering the payment, needs to be agreed to upfront and A part of the Federal award;
(g) The receiver or subrecipient will have to not get paid or retain any profit ensuing from Federal monetary aid Unless of course explicitly approved through the stipulations with the Federal award.
(i) The recipient or subrecipient has didn't adjust to the conditions and terms with the Federal award; or
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When included in the stipulations of the Federal award, the Federal company could allow the recipient to keep devices, or authorize a pass-through entity to permit the subrecipient to keep tools, without having even further obligation for the Federal Authorities Except prohibited by Federal statute or regulation.