---
kind: "section"
citation: "48 C.F.R. § 32.703-1"
title: "48"
number: "32.703-1"
heading: "General."
url: "https://uscodex.org/cfr/48/32.703-1"
---

# §32.703-1. General.

- (a) If the contract is fully funded, funds are obligated to cover the price or target price of a fixed-price contract or the estimated cost and any fee of a cost-reimbursement contract.
- (b) If the contract is incrementally funded, funds are obligated to cover the amount allotted and any corresponding increment of fee.

## Notes

### Authority

Authority: 41 U.S.C. 1121(b); 40 U.S.C. 121(c); 10 U.S.C. chapter 4 and 10 U.S.C. chapter 137 legacy provisions (see 10 U.S.C. 3016); and 51 U.S.C. 20113.

### Source

Source: 48 FR 42328, Sept. 19, 1983, unless otherwise noted.