Federal Acquisition Regulation; Prompt Payment Under Cost-Reimbursement Contracts for Services
other · US Department of Defense · Rule · Published 2001-10-22 · Effective 2001-10-22 · 66 FR 53485
Document
Document number
01-26298
Federal Register citation
66 FR 53485
CFR reference
48 CFR 2
Type
Rule
Action
Interim rule with request for comments.
Category
other
Sub-agency
US Department of Defense
Publication date
2001-10-22
Effective date
2001-10-22
DOD docket
FAC 2001-01
Abstract
The Civilian Agency Acquisition Council and the Defense Acquisition Regulations Council (Councils) have agreed on an interim rule amending the Federal Acquisition Regulation (FAR) to require agencies to pay an interest penalty whenever they make an interim payment under a cost-reimbursement contract for services more than 30 days after the agency receives a proper invoice from the contractor.