[Code of Federal Regulations] [Title 48, Volume 7] [Revised as of October 1, 2001] From the U.S. Government Printing Office via GPO Access [CITE: 48CFR3417.207] [Page 71] TITLE 48--FEDERAL ACQUISITION REGULATIONS SYSTEM CHAPTER 34--DEPARTMENT OF EDUCATION ACQUISITION REGULATION PART 3417--SPECIAL CONTRACTING METHODS--Table of Contents Subpart 3417.2--Options Sec. 3417.207 Exercise of options. If any provision in a contract requires that an option may only be exercised within a specified time after funds become available, the same provision must specify that the date on which funds are available means the date funds become available to the contracting officer for obligation. [53 FR 19122, May 26, 1988] [[Page 72]]