41 U.S. Code § 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.

Source

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

Historical and Revision Notes
Revised Section Source (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.

The table below lists the classification updates, since Jan. 3, 2012, for this section. Updates to a broader range of sections may be found at the update page for containing chapter, title, etc.

The most recent Classification Table update that we have noticed was Tuesday, August 13, 2013

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41 USCDescription of ChangeSession YearPublic LawStatutes at Large

 

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