DOD Proposes to Raise Progress Payment Rate for Large Businesses
The Defense Department proposes to raise the progress payment rate from 75 percent to 80 percent for large businesses performing government contracts on or after October 1, 2001. Contracts awarded prior to that date will not be modified to include the 80 percent rate. The proposed change will place DOD’s large contractors on the same footing as contractors for other federal agencies. DOD progress payment rates for small and small disadvantaged businesses of 90 percent and 95 percent, respectively will not change.
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