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Contract Overpayments: Caveat Contractor |
October 6, 2004
Previously published on November 25, 2003
Significant changes to the Prompt Payment clauses in the
Federal Acquisition Regulation ("FAR") that took effect on
October 31, 2003, require that Contractors notify the
Contracting Officer if the Government overpays the
Contractor on invoice or contract financing payments
(e.g., progress payments) under both Commercial and
Non-Commercial Item contracts. Companion provisions
added at FAR Part 12 and FAR Part 32 require that upon
notification, the Contracting Officer promptly provide the
Contractor with instructions for disposition of
overpayments.
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The views expressed in this article are solely the views of the author and not Martindale-Hubbell. This article is intended for informational purposes only and is not legal advice or a substitute for consultation with a licensed legal professional in a particular case or circumstance. |
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