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FAR | RIN: 9000-AO10 | Publication ID: Fall 2021 |
Title: Federal Acquisition Regulation (FAR); FAR Case 2020-007, Accelerated Payments Applicable to Contracts With Certain Small Business Concerns | |
Abstract:
DoD, GSA, and NASA are proposing to amend the Federal Acquisition Regulation (FAR) to establish an accelerated payment date for small business contractors, to the fullest extent permitted by law, with a goal of 15 days after receipt of a proper invoice, if a specific payment date is not established by contract. For contractors that subcontract with small businesses, the proposed rule, to the fullest extent permitted by law, establishes an accelerated payment date, with a goal of 15 days after receipt of a proper invoice, if: (1) A specific payment date is not established by contract, and (2) the contractor agrees to make accelerated payments to the subcontractor without any further consideration from, or fees charged to, the subcontractor. This change implements section 873 of the National Defense Authorization Act for Fiscal Year 2020 (Pub. L. 116-92). Section 873 amends 31 U.S.C. 3903(a). |
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Agency: DOD/GSA/NASA (FAR)(FAR) | Priority: Substantive, Nonsignificant |
RIN Status: Previously published in the Unified Agenda | Agenda Stage of Rulemaking: Proposed Rule Stage |
Major: No | Unfunded Mandates: No |
CFR Citation: 48 CFR 12 48 CFR 32 48 CFR 52 | |
Legal Authority: 40 U.S.C. 121(c) 10 U.S.C. ch. 137 51 U.S.C. 20113 |
Legal Deadline:
None |
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Timetable:
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Regulatory Flexibility Analysis Required: Yes | Government Levels Affected: Federal, Local, State |
Small Entities Affected: Businesses | Federalism: No |
Included in the Regulatory Plan: No | |
RIN Information URL: www.regulations.gov | Public Comment URL: www.regulations.gov |
RIN Data Printed in the FR: Yes | |
Agency Contact: Zenaida Delgado Procurement Analyst DOD/GSA/NASA (FAR) 1800 F Street, NW, Washington, DC 20405 Phone:202 969-7207 Email: zenaida.delgado@gsa.gov |