Inside New FAR Rule On Untimely Payment To Subcontractors
Law360, New York (February 23, 2017, 11:34 AM EST) -- Aron C. Beezley
Emily A. Unnasch
New changes to the Federal Acquisition Regulation impose mandatory reporting requirements on federal prime contractors who fail to make full and timely payments to their small business subcontractors. Although little more than a month old, these new requirements already have been the source of considerable confusion for both federal prime contractors and small business subcontractors. Accordingly, this article aims to provide a user-friendly overview of the new requirements, and concludes by offering context and analysis from the perspective of both federal prime contractors and small business subcontractors.
Overview of New Mandatory Self-Reporting Requirements
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