DOD, Others Issue Rule To Speed Subcontractor Payments

Law360, New York (November 25, 2013, 7:04 PM EST) -- The U.S. Department of Defense, NASA and the U.S. General Services Administration on Monday issued a final rule amending acquisition policy to provide for accelerated payments to small-business subcontractors.

The move comes in response to a policy released last year by the U.S. Office of Management and Budget, which outlines steps agencies should take to ensure that prime contractors pay small business subcontractors as quickly as possible, according to a notice in the Federal Register.

The rule dictates that when prime contractors receive accelerated payments from...
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