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 (d) Before final payment under the contract, or before settlement upon
termination of the contract, and as a condition precedent thereto, the
Contractor shall execute and deliver to the Contracting Officer a release
of all claims against the Government arising under or by virtue of this
contract, other than any claims that are specifically excepted by the
Contractor from the operation of the release in amounts stated in the
release.
(e) Notwithstanding any other provision in this contract, and
specifically paragraph (b) of this clause, progress payments shall not
exceed 80 percent on work accomplished on undefinitized contract actions.
A "contract action" is any action resulting in a contract, as defined in
FAR Subpart 2.1, including contract modifications for additional supplies
or services, but not including contract modifications that are within the
scope and under the terms of the contract, such as contract modifications
issued pursuant to the Changes clause, or funding and other administrative
changes.
40.
FAR 52.232-17, INTEREST (JAN 1991)
(a) Notwithstanding any other clause of this contract, all amounts
except amounts that are repayable and which bear interest under a Price
Reduction for Defective Cost or Pricing Data clause, that become payable by
the Contractor to the Government under this contract (net of any applicable
tax credit under the Internal Revenue Code (26 U.S.C. 1481)) shall bear
simple interest-from the date due until paid unless paid within 30 days of
becoming due. The interest rate shall be the interest rate established by
the Secretary of the Treasury as provided in Section 12 of the Contract
Disputes Act of 1978 (Public Law 95-563), which is applicable to the period
in which the amount becomes due, as provided in paragraph (b) of this
clause, and then at the rate applicable for each six-month period as fixed
by the Secretary until the amount is paid.
(b) Amounts shall be due at the earliest of the following dates:
(1) The date fixed under this contract.
(2) The date of the first written demand for payment consistent
with this contract, including any demand resulting from a default
termination.
(3) The date the Government transmits to the Contractor a
proposed supplemental agreement to confirm completed negotiations
establishing the amount of debt.
(4) If this contract provides for revision of prices, the date of
written notice to the Contractor stating the amount of refund payable in
connection with a pricing proposal or a negotiated pricing agreement not
confirmed by contract modification.
(c) The interest charge made under this clause may be reduced under
the procedures prescribed in 32.614-2 of the Federal Acquisition Regulation
in effect on the date of this contract.
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