A covered transaction is a nonprocurement or procurement transaction subject to this part's prohibitions. 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.
source: 89 FR 30115, Apr. 22, 2024, unless otherwise noted.
cite as: 2 CFR 180.200