Most customary contract financing arrangements should be usable by contracting officers without specific reviews or approvals by higher management.ĭelivery payment means a payment for accepted supplies or services, including payments for accepted partial deliveries. (2) Contract financing payments do not include-Ĭustomary contract financing means that financing deemed by an agency to be available for routine use by contracting officers.
(vi) Interim payments under a cost reimbursement contract, except for a cost reimbursement contract for services when Alternate I of the clause at 52.232-25, Prompt Payment, is used. (v) Progress payments based on a percentage or stage of completion (see 32.102(e)), except those made under the clause at 52.232-5, Payments Under Fixed-Price Construction Contracts, or the clause at 52.232-10, Payments Under Fixed-Price Architect-Engineer Contracts and (iv) Progress payments based on cost under the clause at 52.232-16, Progress Payments (iii) Commercial advance and interim payments A commercial interim payment is given to the contractor after some work has been done, whereas a commercial advance payment is given to the contractor when no work has been done.Ĭontract action means an action resulting in a contract, as defined in subpart 2.1, including actions for additional supplies or services outside the existing contract scope, but not including actions that are within the scope and under the terms of the existing contract, such as contract modifications issued pursuant to the Changes clause, or funding and other administrative changes.Ĭontract financing payment means an authorized Government disbursement of monies to a contractor prior to acceptance of supplies or services by the Government. These payments are contract financing payments for prompt payment purposes ( i.e., not subject to the interest penalty provisions of the Prompt Payment Act in accordance with subpart 32.9). Commercial interim payment means any payment that is not a commercial advance payment or a delivery payment.
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