31 CFR §19.220

1. (a)Covered transactions under this part—
   1. (1)Do not include any procurement contracts awarded directly by a Federal agency; but
   2. (2)Do include some procurement contracts awarded by non-Federal participants in nonprocurement covered transactions (see appendix to this part).
2. (b)Specifically, a contract for goods or services is a covered transaction if any of the following applies:
   1. (1)The contract is awarded by a participant in a nonprocurement transaction that is covered under § 19.210, and the amount of the contract is expected to equal or exceed $25,000.
   2. (2)The contract requires the consent of a(n) Department of the Treasury official. In that case, the contract, regardless of the amount, always is a covered transaction, and it does not matter who awarded it. For example, it could be a subcontract awarded by a contractor at a tier below a nonprocurement transaction, as shown in the appendix to this part.
   3. (3)The contract is for federally-required audit services.