1. Regulations
  2. title 2
  3. chapter XI
  4. part 1128
  5. subpart E
  6. § 1128.500

Collapse to view only § 1128.500 - Purpose of FMS Article V.

§ 1128.500 - Purpose of FMS Article V.

FMS Article V of the general terms and conditions specifies requirements related to audits required under the Single Audit Act, as amended (31 U.S.C., chapter 75). The article thereby implements for grants and cooperative agreements the OMB guidance in Subpart F of 2 CFR part 200.

AUTHORITY: 5 U.S.C. 301 and 10 U.S.C. 113.

SOURCE: 85 FR 51171, Aug. 19, 2020, unless otherwise noted.

CITE AS: 2 CFR 1128.500

§ 1128.505 - Content of FMS Article V.

(a) Requirement. A DoD Component's general terms and conditions must address audit requirements.

(b) Award terms and conditions—(1) General. A DoD Component's general terms and conditions must include the wording appendix E to this part provides for FMS Article V.

(2) Exception. A DoD Component may reserve Section B of the wording in appendix E if there will be no subawards to for-profit entities under any award using those terms and conditions.

AUTHORITY: 5 U.S.C. 301 and 10 U.S.C. 113.

SOURCE: 85 FR 51171, Aug. 19, 2020, unless otherwise noted.

CITE AS: 2 CFR 1128.505