Quantcast Prompt Payment for Fixed-Price Architect Engineer Contracts

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41.
FAR 52.232-23, ASSIGNMENT OF CLAIMS (JAN 1986) - ALTERNATE I
(APR 1984)
(a) The Contractor, under the Assignment of Claims Act, as amended, 31
U.S.C. 3727, 41 U.S.C. 15 (hereafter referred to as "the Act"), may assign
its rights to be paid amounts due or to become due as a result of the
performance of this contract to a bank, trust company, or other financing
institution, including any Federal lending agency.  The assignee under such
an assignment may thereafter further assign or reassign its right under the
original assignment to any type of financing institution described in the
preceding sentence.  Unless other wise stated in this contract, payments to
an assignee of any amounts due or to become due under this contract shall
not, to the extent specified in the Act, be subject to reduction or setoff.
(b) Any assignment or reassignment authorized under the Act and this
clause shall cover all unpaid amounts payable under this contract, and
shall not be made to more than one party, except that an assignment or
reassignment may be made to one party as agent or trustee for two or more
parties participating in the financing of this contract.
(c) The Contractor shall not furnish or disclose to any assignee under
this contract any classified document (including this contract) or
information related to work under this contract until the Contracting
Officer authorizes such action in writing.
42.
FAR 52.232-26, PROMPT PAYMENT FOR FIXED-PRICE ARCHITECT-
ENGINEER CONTRACTS (APR 1989)
Not with standing any other payment terms in this contract, the
Government will make invoice payments and contract financing payments under
the terms and conditions specified in this clause.  Payment shall be
considered as being made on the day a check is dated or an electronic funds
transfer is made.  Definitions of pertinent terms are set forth in 32.902.
All days referred to in this clause are calendar days, unless otherwise
specified.
(a) Invoice Payments
(1) For purposes of this clause, "invoice payment" means a
Government disbursement of monies to a Contractor under a contract or other
authorization for work or services accepted by the Government, payments for
partial deliveries that have been accepted by the Government, and progress
payments based on contracting officer approval of the estimated amount and
value of work or services performed.
(2) The due date for making invoice payments shall be as
described in this subparagraph (a) (2).
(i)  The due date for work or services completed by the
Contractor shall be the later of the following two events:
(A) The 30th day after the designated billing office
has received a proper invoice from the Contractor.
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