Statutory Text

41 U.S.C. § 4504 — Conditions for progress 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. 4504 - Conditions for progress payments From the U.S. Government Publishing Office, www.gpo.gov

§4504. Conditions for progress payments

(a) 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. (b) 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. (c) Application.—This section applies to a contract in an amount greater than $25,000.

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

Historical and Revision Notes Revised SectionSource (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.

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

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41 U.S.C. § 4504

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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

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