[Code of Federal Regulations] [Title 2, Volume 1] [Revised as of January 1, 2007] From the U.S. Government Printing Office via GPO Access [CITE: 2CFR180.200] [Page 17] TITLE 2--GRANTS AND AGREEMENTS CHAPTER I--OFFICE OF MANAGEMENT AND BUDGET GOVERNMENTWIDE GUIDANCE FOR GRANTS AND AGREEMENTS PART 180_OMB GUIDELINES TO AGENCIES ON GOVERNMENTWIDE DEBARMENT AND SUSPENSION Subpart B_Covered Transactions Sec. 180.200 What is a covered transaction? A covered transaction is a nonprocurement or procurement transaction that is subject to the prohibitions of this part. It may be a transaction at-- (a) The primary tier, between a Federal agency and a person (see appendix to this part); or (b) A lower tier, between a participant in a covered transaction and another person.