Tuesday, December 05, 2006

Interim payments for cost-reimbursable contracts need this clause

Sometimes we forget that our business is in the details. Here is another reminder.

If you have a cost-reimbursable contract, make sure you add Alternate I to the Prompt Payment clause and modify the standard payment time to 14 days. This allows contractors to receive quicker payments and to deflect DoD IG audit concerns.

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