2 C.F.R. § 1108.305
Current through October 31, 2024
Procurement transaction means a legal instrument by which a recipient or subrecipient purchases property or services it needs to carry out the project or program under its award or subaward, respectively. A procurement transaction is distinct both from "subaward" and "procurement contract," as those terms are defined in this subpart.
2 C.F.R. §1108.305