progress payments | The Contracting Education Academy

The Contracting Education Academy, a Georgia Tech unit dedicated to supporting the professional education needs of the government’s contracting workforce, has launched a special webpage devoted to providing information and guidance dealing with the impact of COVID-19 on federal contracts.

**Click on image above to visit the webpage.**

The webpage, located here, presents helpful information to both contracting officials and contractors who are navigating the current contracting environment.

Numerous topics are addressed on the webpage. For Contracting Officers and other members of the federal acquisition workforce, topics include:

Teleworking by contractor employees
Quarantine restrictions and excusable delays
Equitable adjustments
Extending performance periods
Contract modifications
Maintaining a contractor state of readiness
Application of the Stafford Act
Communication and transparency in contract administration
DoD emergency acquisition and preparedness
Tracking COVID-19 contract spending
The Defense Production Act
The Defense Priorities and Allocations System
GSA Schedule purchasing
Fraud and price gouging

For the contractor community, the following topics are addressed on the webpage:

Preventing workplace exposure and risks
Identifying critical infrastructure industries
The System for Award Management (SAM)
Excusable delay contract provisions
Changes clauses
Obligation to perform
The Defense Priorities and Allocations System
DoD progress payments
Sales through GSA Schedules
Advice for small businesses
Economic disaster loans
The Families First Coronavirus Response Act

Additional information and updates will be added as often as daily to the site. We suggest you bookmark the site now and check back frequently for the latest news involving the impact of coronavirus on federal contracts.

Just over a month ago, the Pentagon told its contracting officers and contract administrators to boost the amount of money it pays vendors in the form of progress payments as one way to increase their cash flow amidst a sagging economy. And the dollars have indeed started flowing.

As of last week, DoD had made $1.2 billion in additional progress payments because of the higher rates — which rose from 80% to 90% of the total contract value for large companies, and from 90% to 95% in the case of small firms. Ellen Lord, the undersecretary of Defense for acquisition and sustainment told reporters she expected the figure to rise to $3 billion in “the next week or two.”

For context, the department’s outlays for contracts are about $25 billion in total during an average month, making the $3 billion in accelerated payments a not-insubstantial sum. Lord said the added progress payments happened across 1,400 separate contracts, mostly because of a mass-modification the Defense Contract Management Agency processed to boost payment rates.

However, one open question — in the case of large contracts — is how quickly bigger firms are passing the advance payments down through their supply chains. Those figures, Lord said, are more difficult to track.

Keep reading this article at: https://federalnewsnetwork.com/dod-reporters-notebook-jared-serbu/2020/05/dod-to-deliver-3b-in-accelerated-contractor-payments-over-coming-weeks/

The Contracting Education Academy at Georgia Tech has established a webpage where all contract-related developments related to the coronavirus (COVID-19) are summarized. Find the page at: https://contractingacademy.gatech.edu/coronavirus-information-for-contracting-officers-and-contractors/

Academy launches webpage containing Coronavirus information for contracting officers and contractors

The Contracting Education Academy, a Georgia Tech unit dedicated to supporting the professional education needs of the government’s contracting workforce, has launched a special webpage devoted to providing information and guidance dealing with the impact of COVID-19 on federal contracts.

DoD to deliver $3 billion in accelerated contractor payments over coming weeks

Just over a month ago, the Pentagon told its contracting officers and contract administrators to boost the amount of money it pays vendors in the form of progress payments as one way to increase their cash flow amidst a sagging economy. And the dollars have indeed started flowing.

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