In addition to late progress payments
, there are two other instances in which government agencies are required to pay interest under construction contracts.
Relying on the terms of the contract, the court found that the risk of failed research rested solely on Fairchild and unmistakably held that the receipt of progress payments
neither shifted that risk nor constituted funding.
Hinson met with PMI representative during his audit and learned that PMI had not paid Taber after PMI received the first progress payment
from the government.
The settlement compensates the government for interest on the amount of progress payments
The Company did not earn any research progress payments
In addition, panel participants will debate how contractors can avoid "significant deficiencies" which can cause the government to withhold up to 10% of contract progress payments
As a matter of practice, on all fixed price type contracts, I expect that the basis of negotiations shall be the use of customary progress payments
The benefit to the contractor is that these performance-based payments can reach up to 90 percent of the program costs, compared to 80 percent for progress payments
Earned value has been used for decades by project owners to ensure that progress payments
have been earned--thus the name earned value analysis.
Besides the one-time equity investment, Amgen will pay an undisclosed fee for access to Infinity's technology and make progress payments
should any Infinity compounds reach clinical trials or other milestones on the road toward market approval, and royalties if a drug succeeds.
They are shrinking lead times, insisting on price reductions and stretching out payment terms (payment at PPAP or beyond is now typical; progress payments
are a rarity).
Another important point is that the US government has changed its approach to how it pays defence contractors, up to 80 per cent of the contract price can now be paid out in progress payments