The Resource Defense Acquisition: Guidance Is Needed on Payments for Conditionally Accepted Items

Defense Acquisition: Guidance Is Needed on Payments for Conditionally Accepted Items

Label
Defense Acquisition: Guidance Is Needed on Payments for Conditionally Accepted Items
Title
Defense Acquisition: Guidance Is Needed on Payments for Conditionally Accepted Items
Contributor
Subject
Language
eng
Summary
When acquirihg goods or services by contract, U.S. government policy is generally to pay only for completed work. The purpose of this policy is to reduce the government's risk of financial exposure in the event a contractor falls to perform. In the case of payments at the time of conditional acceptance, this would generally mean withholdihg sufficient funds to cover the estimated cost and profit associated with completing the work. This policy of only paying for completed work is grounded in the prohibition against advance payments contained in title 31, section 3324 of the United States Code, which states that "a payment under a contract to provide a service or deliver an article for the United States Government may not be more than the value of the service already provided or the article already delivered." This policy is also evident in the provisions governing progress payments, which state that agencies "shall ensure that any payment for work in progress ... is commensurate with the work accomplished. ... The statutory exceptions to this policy apply conditions or restrictions to the transaction. For example, a written determination is required from the head of an agency, or his or her designee, that the use of advance payments is in the public interest
Cataloging source
DTICE
Index
no index present
Literary form
non fiction
http://library.link/vocab/relatedWorkOrContributorName
GENERAL ACCOUNTING OFFICE WASHINGTON DC NATIONAL SECURITY AND INTERNATIONAL AFFAIRS DIV
http://library.link/vocab/subjectName
  • Government procurement
  • Policies
  • Risk
  • Acquisition
  • Exposure(general)
  • Finance
  • Government and Political Science
Label
Defense Acquisition: Guidance Is Needed on Payments for Conditionally Accepted Items
Instantiates
Publication
Note
Report to the Secretary of Defense
Carrier category
online resource
Carrier category code
cr
Carrier MARC source
rdacarrier
Content category
text
Content type code
txt
Content type MARC source
rdacontent
Extent
17 pages
Form of item
online
Governing access note
APPROVED FOR PUBLIC RELEASE
Media category
computer
Media MARC source
rdamedia
Media type code
c
Note
Hein Online
System control number
  • (OCoLC)227859362
  • (OCoLC)ocn227859362
Label
Defense Acquisition: Guidance Is Needed on Payments for Conditionally Accepted Items
Publication
Note
Report to the Secretary of Defense
Carrier category
online resource
Carrier category code
cr
Carrier MARC source
rdacarrier
Content category
text
Content type code
txt
Content type MARC source
rdacontent
Extent
17 pages
Form of item
online
Governing access note
APPROVED FOR PUBLIC RELEASE
Media category
computer
Media MARC source
rdamedia
Media type code
c
Note
Hein Online
System control number
  • (OCoLC)227859362
  • (OCoLC)ocn227859362

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