Statutory Text

41 U.S.C. § 4503 — Security for advance payments

U.S.C. Title 41 - PUBLIC CONTRACTS 41 U.S.C. United States Code, 2023 Edition Title 41 - PUBLIC CONTRACTS Subtitle I - Federal Procurement Policy Division C - Procurement CHAPTER 45 - CONTRACT FINANCING Sec. 4503 - Security for advance payments From the U.S. Government Publishing Office, www.gpo.gov

§4503. Security for advance payments

Advance payments under section 4501 of this title may be made only on adequate security and a determination by the agency head that to do so would be in the public interest. The security may be in the form of a lien in favor of the Federal Government on the property contracted for, on the balance in an account in which the payments are deposited, and on such of the property acquired for performance of the contract as the parties may agree. This lien shall be paramount to all other liens and is effective immediately upon the first advancement of funds without filing, notice, or any other action by the Federal Government.

(Pub. L. 111–350, §3, Jan. 4, 2011, 124 Stat. 3791.)

Historical and Revision Notes Revised SectionSource (U.S. Code)Source (Statutes at Large)

4503 41:255(d). June 30, 1949, ch. 288, title III, §305(d), 63 Stat. 396; July 12, 1952, ch. 703, §1(m), 66 Stat. 594; Pub. L. 85–800, §4, Aug. 28, 1958, 72 Stat. 966; Pub. L. 103–355, title II, §2051(a)(4), (5), (d), Oct. 13, 1994, 108 Stat. 3304.

Source: uscode.house.gov — public domain Official Source ↗

Root-LD Entity Data

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Federation ID

BS-USC41-SEC-F3EB7B

Entity Class

STATUTE / FEDERAL-CODE-SECTION

Domain Signature

boisestandard.org

Citation

41 U.S.C. § 4503

Jurisdiction

Federal — United States

Status

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Source Verified

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Content Hash

4cde6224afbad709...

Semantic Edges

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This page was generated from primary source data retrieved via the GovInfo API (api.govinfo.gov). The statutory text of 41 U.S.C. § 4503 is reproduced from the official United States Code as published by the Office of the Law Revision Counsel.

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← 41 U.S.C. § 4502 41 U.S.C. § 4504 →

Ch. 45 — Contract Financing

41 U.S.C. § 4501 41 U.S.C. § 4502 41 U.S.C. § 4503 41 U.S.C. § 4504 41 U.S.C. § 4505 41 U.S.C. § 4506

41 U.S.C. — public domain ← All Legislation