By Quentin W. Fleming
Covers the topic of development funds in keeping with charges incurred, as required via the Federal Acquisition legislation, a ways sub-part 32.5. The ebook recommends conserving a linkage among all development funds and the supplier's actual functionality on the way to reduce hazards.
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Additional info for A Probus Guide to Subcontract Project Management and Control: Progress Payments
2. 5 in defense subcontracting. 3. Whenever a supplier's financial condition is in question. Chapter 2 26 4. Whenever a supplier has had an advance payment request or loan guarantee denied for financial reasons in the past twelve months. 5. , information which m w i be obtained from a subcontractor prior to making the award), an imaginary or "hypothetical"procurement-with specific terms, conditions, and dollar amounts-will be described below. Of course, such needed post-award information could be obtained from a supplier after the award of the subcontract, but to do so at that time there would be a price to pay, perhaps a substantial price, to get such information from the subcontractor.
Two examples are used in Figure 3-1 to illustrate the impact of increasing the liquidation rate from the h percent initial ordinary rate, upward to 90 percent, and even upward to a full 100 percent. With a 90 percent liquidation rate the supplier's cash payment with each delivery reduces from $220,000 (ordinary) down to $110,000, and then down to zero cash proceeds with a full 100 percent liquidation. Talk about a "grabber" to get the supplier's management attention. But the buyer must have sound reasons to take such actions, consistent with the language specified in FAR.
Certain very precise standards must be met before a supplier can qualify for the more attractive terms of the alternate liquidation rate (ALR), somewhat similar to the higher standards which are required for flexible progress payments as covered earlier. Actual cost history must be provided to the prime contractor to support the requested change in liquidation rates. The higher standards to obtain the ALR generally consist of the following ten conditions: 1. The supplier, not the prime contractor, must initiate the request for the lower Alternate Liquidation Rate.