2 C.F.R. § 1108.300
Current through October 31, 2024
Procurement contract means a legal instrument which, consistent with 31 U.S.C. 6303 , reflects a relationship between the Federal Government and a State, a local government, or other recipient when the principal purpose of the instrument is to acquire property or services for the direct benefit or use of the Federal Government. A procurement contract is a prime-tier transaction and therefore distinct from a recipient's or subrecipient's "procurement transaction" or "contract" as defined in this subpart.
2 C.F.R. §1108.300