Section 52.232-40 - Providing Accelerated Payments to Small Business SubcontractorsAs prescribed in 32.009-2, insert the following clause:
Providing Accelerated Payments to Small Business Subcontractors (MAR 2023)
(a)(1) In accordance with 31 U.S.C. 3903 and 10 U.S.C. 3801 , within 15 days after receipt of accelerated payments from the Government, the Contractor shall make accelerated payments to its small business subcontractors under this contract, to the maximum extent practicable and prior to when such payment is otherwise required under the applicable contract or subcontract, after receipt of a proper invoice and all other required documentation from the small business subcontractor.(2) The Contractor agrees to make such payments to its small business subcontractors without any further consideration from or fees charged to the subcontractor.(b) The acceleration of payments under this clause does not provide any new rights under the Prompt Payment Act.(c) Include the substance of this clause, including this paragraph (c), in all subcontracts with small business concerns, including subcontracts with small business concerns for the acquisition of commercial products or commercial services. (End of clause)
78 FR 70479, Nov. 25, 2013, as amended at 86 FR 61037, Nov. 4, 2021; 88 FR 9734, Feb. 14, 2023 86 FR 61017, 12/6/2021; 88 FR 9734, 3/16/2023