[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: 48CFR3517.207]

[Page 126]
 
            TITLE 48--FEDERAL ACQUISITION REGULATIONS SYSTEM
 
                   CHAPTER 35--PANAMA CANAL COMMISSION
 
PART 3517--SPECIAL CONTRACTING METHODS--Table of Contents
 
                         Subpart 3517.2--Options
 
Sec. 3517.207  Exercise of options.

    (h) The contracting officer, if the contract so provides, may, 
subject to the conditions in FAR 17.204(d) and FAR 32.703-2, exercise an 
option contingent upon the availability of funds. Under no circumstances 
shall any action be taken which could be construed as creating a legal 
liability on the part of the Commission until a formal notice of 
availability of funds in the form of a contract modification has been 
issued by the contracting officer.