Source: https://www.law.cornell.edu/uscode/text/41/4504?qt-us_code_tabs=2
Timestamp: 2015-08-04 16:53:18
Document Index: 157420472

Matched Legal Cases: ['§ 4504', '§ 4504', '§ 4504', '§ 305', '§ 2051', '§ 4321']

41 U.S. Code § 4504 - Conditions for progress payments | LII / Legal Information Institute
U.S. Code › Title 41 › Subtitle I › Division C › Chapter 45 › § 4504 41 U.S. Code § 4504 - Conditions for progress payments
Payment Commensurate With Work.— The executive agency shall ensure that a payment for work in progress (including materials, labor, and other items) under a contract of an executive agency that provides for those payments is commensurate with the work accomplished that meets standards established under the contract. The contractor shall provide information and evidence the executive agency determines is necessary to permit the executive agency to carry out this subsection.
Limitation.— The executive agency shall ensure that progress payments referred to in subsection (a) are not made for more than 80 percent of the work accomplished under the contract as long as the executive agency has not made the contractual terms, specifications, and price definite.
Application.— This section applies to a contract in an amount greater than $25,000.
Revised Section Source (U.S. Code) Source (Statutes at Large) 4504
41:255(e).
June 30, 1949, ch. 288, title III, § 305(e), as added Pub. L. 103–355, title II, § 2051(e), Oct. 13, 1994, 108 Stat. 3304, as amended Pub. L. 104–106, title XLIII, § 4321(a)(4), Feb. 10, 1996, 110 Stat. 671.