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Contract of Payment Received


(iii) The additional penalty does not apply to payments governed by other government regulations (e.g.B payments under utility contracts subject to tariffs and regulations). (i) substantially similar to the merit-based payment clause in FAR 52.232-32 and meeting the criteria and definition of performance-based payments in Part 32 of the FAR; (2) The Government shall review and determine the acceptability of work performed or services rendered within seven days after receiving a proper invoice or notifying the completion of the work or services, unless a different period is specified at the time the contract is entered into. If the actual acceptance takes place later, the acceptance shall be deemed to have taken place on the last day of the seven-day review period for the determination of the due date of payment and the calculation of interest. If the work or service is rejected due to non-compliance with the technical requirements of the contract, the seven days from receipt of a new invoice or notification will be counted. In both cases, the contractor is not entitled to any payment or interest unless the actual acceptance by the government is made. (1) The costs incurred by the Contractor under this Contract over the next 60 days, as well as any costs already incurred, will exceed 75% of the estimated costs specified in the schedule; or payment terms are essential in contract negotiation. Payment terms should maximize how quickly your customers pay you and minimize inconvenience to your customer. A good number of payment terms should benefit both parties. (1) The Contractor shall accurately report the dollar value in the United States. and rounded to the nearest whole dollar of all sales under this Agreement by calendar quarter (January 1 to March 31, April 1 to June 30, July 1 to September 30 and October 1 to December 31). The dollar value of a sale is the price that the schedule user pays for the products and services in a planning task or delivery order.

The value of reported order sales includes industrial financing costs (FRFIs). The Contractor maintains a consistent accounting method of reporting sales based on the Contractor`s established business accounting practice. Acceptable points where sales can be reported include: (2) If the contractual clauses refer to actions taken by a contract agent or a contract agent of the GSA, this means the person responsible for placing the order for the order activity (e.B. FAR 52.212-4 in paragraph (f) and FSS clause I-FSS-249 (B). (ii) generally makes such payments within 30 days of the submission of the Contractor`s claim for payment to the Government and such payment is in accordance with the terms of the agreement or invoice. (1) The Contractor is required to provide the Government with the information necessary for payment by EFT (see paragraph (j) of this clause). The Contractor shall provide such information directly to the entity designated in this Agreement in order to obtain such information (hereinafter: “Designated Office”) no later than ____ [the Contractor shall insert the date, a few days after the award, a few days before the first application, the date indicated for the receipt of tenders, if the provision referred to in paragraphs 52.232-38 is used, or “at the same time as the first application”, as prescribed by the Head of the Agency; if it is not mandatory, insert “no later than 15 days before the submission of the first payment request”]. Unless otherwise provided for in this contract, the paying agency shall be the notified body for the receipt of the contractor`s FET information. Where more than one notified body is notified for the contract, the contractor shall inform each body separately. In the event that the EFT information changes, the contractor is responsible for transmitting the updated information to the designated body(ies). (ii) A list of the amount included for the work performed by each subcontractor under the contract. 3.

Hourly rates shall be paid for all work performed on the contract which corresponds to the employment qualifications provided for in the contract. Hours of work performed for the performance of tasks for which labour law qualifications have been specified in the contract shall not be paid to the extent that the work is performed by employees who do not meet the qualifications set out in the contract, unless the contract agent has expressly authorised it. (2) A list of the earliest date and the maximum amount at which each contractual financing payment may be due, as well as the amount of each delivery payment. Any resulting contract shall provide that no payment for the financing of the contract shall be made at a date earlier than or in an amount greater than that specified in the tenderer`s tender. .

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