Federal Acquisition Regulation; FAR Case 2004-031, Fast Payment Procedures
other · US Department of Defense · Rule · Published 2006-04-19 · Effective 2006-05-19 · 71 FR 20308
Document
Document number
06-3686
Federal Register citation
71 FR 20308
CFR reference
48 CFR 52
Type
Rule
Action
Final rule.
Category
other
Sub-agency
US Department of Defense
Publication date
2006-04-19
Effective date
2006-05-19
DOD docket
FAC 2005-09
Abstract
The Civilian Agency Acquisition Council and the Defense Acquisition Regulations Council (Councils) have agreed on a final rule amending the Federal Acquisition Regulation (FAR) by revising fast payment procedures. The revision permits, but does not require, fast payment when invoices and/or outer shipping containers are not marked "Fast Pay" provided the contract includes the "Fast Payment Procedure" clause. As highlighted in the clause, if the clause is in the contract, the invoices will no longer be rejected, as is the current practice. Instead, they will be paid using either fast payment or normal payment procedures. In addition, the revision deletes the requirement for marking invoices "No Receiving Report Prepared."