U.S. Code » Title 41 » Subtitle Subtitle I— Federal Procurement Policy › Division Division C— Procurement › Chapter CHAPTER 45— CONTRACT FINANCING

41 U.S.C. § 4501

Authority of executive agency

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An executive agency may—(1) make advance, partial, progress or other payments under contracts for property or services made by the agency; and(2) insert in solicitations for procurement of property or services a provision limiting to small business concerns advance or progress payments.(Pub. L. 111–350, § 3, Jan. 4, 2011, 124 Stat. 3790.)

Historical and Revision Notes

Revised

Section

Source (U.S. Code)

Source (Statutes at Large)

4501

41:255(a).

June 30, 1949, ch. 288, title III, § 305(a), 63 Stat. 396; July 12, 1952, ch. 703, § 1(m), 66 Stat. 594; Pub. L. 85–800, § 4, Aug. 28, 1958, 72 Stat. 966; Pub. L. 103–355, title II, § 2051(a)(2), (c), Oct. 13, 1994, 108 Stat. 3304.

Statutory Notes and Related SubsidiariesRelationship to Prompt Payment Requirements

Pub. L. 103–355, title II, § 2051(f), Oct. 13, 1994, 108 Stat. 3306, provided that: “The amendments made by this section [see Tables for classification] are not intended to impair or modify procedures required by the provisions of chapter 39 of title 31, United States Code, and the regulations issued pursuant to such provisions of law (as such procedures are in effect on the date of the enactment of this Act [Oct. 13, 1994]), except that the Government may accept payment terms offered by a contractor offering a commercial item.”