Virginia Release of Production Payment by Party Who Was Assigned or Reserved the Production Payment
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How to fill out Release Of Production Payment By Party Who Was Assigned Or Reserved The Production Payment?
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FAQ
(1) Include the contracting officer's telephone number and, when available, e-mail/Internet address on contracts and modifications. (2) The contracting officer may sign bilateral modifications of a letter contract before signature by the contractor.
Bilateral modifications proposed by either you or the government must be signed by your authorized representative and the government contracting officer.
(a) Requirement. When a contract financing clause is included at the inception of a contract, there shall be no separate consideration for the contract financing clause.
Hear this out loud PauseA progress payment is a partial payment approach identified in a contract related to steps or phases toward the completion of the contract for goods and/or services. Use of this payment approach can require withhold of a percentage of payment pending completion of the entire contract and a bond.
Hear this out loud PauseThe contractor has primary responsibility for performance of the contract. However, both the contracting officer and the contracting officer's representative (COR) have an interest in monitoring contractor performance because unsatisfactory performance may jeopardize a project or even an entire program.
(i) The contracting officer shall document in the contract file the rationale for placement and price of each order, including the basis for award and the rationale for any tradeoffs among cost or price and non-cost considerations in making the award decision.
Hear this out loud PauseAdequate new consideration is required for changes to, or the addition of, contract financing after award. (b) Amount of new consideration. The contractor may provide new consideration by monetary or nonmonetary means, provided the value is adequate.
Hear this out loud Pause?Contract financing payment? means an authorized disbursement of monies from the Government to the contractor prior to the Government's acceptance of supplies or services.
