The selection of good payment events is critical to the performance based

The selection of good payment events is critical to

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9) The selection of good payment events is critical to the performance-based payment process. Which of the following statements represents a common characteristic of good performance-based payment events? [Select the appropriate non-commercial contract financing terms and conditions for a given contract (performance-based payments and progress payments).] They are clear milestones in the path toward ultimate completion of contract. They must not represent a physical change in the product. They ensure incurred costs are allocated correctly. The value of the work performed is not discernible. 10) You award a $2,000,000 contract to a small disadvantaged business. The contract includes a progress payment rate of 90%. One month after award, the contractor submits his first progress payment request with total incurred costs to-date of $250,000. How much is the contractor eligible to receive? [Calculate the appropriate contract financing payment amount for performance-based payments and progress payments.] 11) The Wanabee Big Corp., a small, high-tech defense contractor, possesses technical abilities considered essential to the Department of Defense. Wanabee manufactures several key, military-unique components for the critical F-29 fighter jet. Unfortunately, the company’s financial condition is weak. The chief executive officer (CEO) recently contacted the government procuring contracting officer (PCO) and requested advance payments on a just-signed $18 million contract. The PCO has determined that Wanabee meets all the statutory requirements and standards. What action should the PCO now take? [Identify the conditions for using loan guarantees, advance payments, and interim vouchers.][Remediation Accessed :N] Page 3 of 4 DAU 11/17/2016
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  • Spring '16
  • N/A
  • Contractual term, SSEB

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