52.232-99, Providing Accelerated Payment to Small Business Subcontractors (DEVIATION) (AUG 2013)
The contracting officer shall insert the following clause in all solicitations and resultant contracts.
PROVIDING ACCELERATED PAYMENT TO SMALL BUSINESS SUBCONTRACTORS (DEVIATION)
This clause implements the temporary policy provided by OMB Policy Memorandum M-12-16, Providing Prompt Payment to Small Business Subcontractors, dated July 11, 2012, and the extension to that policy provided by OMB Policy Memorandum M-13-15, Extension of Policy to Provide Accelerated Payment to Small Business Subcontractors, dated July 11, 2013.
- Upon receipt of accelerated payments from the Government, the contractor is required to make accelerated payments to small business subcontractors to the maximum extent practicable after receipt of a proper invoice and all proper documentation from the small business subcontractor.
- Include the substance of this clause, including this paragraph (b), in all subcontracts with small business concerns.
- The acceleration of payments under this clause does not provide any new rights under the Prompt Payment Act.