41 U.S.C. § 4505 — Payments for commercial products and commercial services

FEDERAL · 41 U.S.C. · Chapter 45

Payments for commercial products and commercial services

41 U.S.C. § 4505

Chapter45 — CONTRACT FINANCING

This text of 41 U.S.C. § 4505 (Payments for commercial products and commercial services) is published on Counsel Stack Legal Research, covering United States primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

41 U.S.C. § 4505.

Text

(a)Terms and Conditions for Payments.—Payments under section 4501 of this title for commercial products or commercial services may be made under terms and conditions that the head of the executive agency determines are appropriate or customary in the commercial marketplace and are in the best interests of the Federal Government.

(b)Security for Payments.—The head of the executive agency shall obtain adequate security for the payments. If the security is in the form of a lien in favor of the Federal Government, the lien is paramount to all other liens and is effective immediately on the first payment, without filing, notice, or other action by the Federal Government.

(c)Limitation on Advance Payments.—Advance payments made under section 4501 of this title for commercial products or comme

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(a) Terms and Conditions for Payments.—Payments under section 4501 of this title for commercial products or commercial services may be made under terms and conditions that the head of the executive agency determines are appropriate or customary in the commercial marketplace and are in the best interests of the Federal Government.
(b) Security for Payments.—The head of the executive agency shall obtain adequate security for the payments. If the security is in the form of a lien in favor of the Federal Government, the lien is paramount to all other liens and is effective immediately on the first payment, without filing, notice, or other action by the Federal Government.
(c) Limitation on Advance Payments.—Advance payments made under section 4501 of this title for commercial products or commercial services may include payments, in a total amount not more than 15 percent of the contract price, in advance of any performance of work under the contract.
(d) Nonapplication of Certain Conditions.—The conditions of sections 4503 and 4504 of this title need not be applied if they would be inconsistent, as determined by the head of the executive agency, with commercial terms and conditions pursuant to this section.

Source Credit

History

(Pub. L. 111–350, §3, Jan. 4, 2011, 124 Stat. 3791; Pub. L. 115–232, div. A, title VIII, §836(b)(18)(A), (B)(i), Aug. 13, 2018, 132 Stat. 1864.)

Editorial Notes

Editorial Notes

Amendments
2018—Pub. L. 115–232, §836(b)(18)(B)(i), substituted "Payments for commercial products and commercial services" for "Payments for commercial items" in section catchline.
Subsecs. (a), (c). Pub. L. 115–232, §836(b)(18)(A), substituted "commercial products or commercial services" for "commercial items".

Statutory Notes and Related Subsidiaries

Effective Date of 2018 Amendment
Amendment by Pub. L. 115–232 effective Jan. 1, 2020, subject to a savings provision, see section 836(h) of Pub. L. 115–232, set out as an Effective Date of 2018 Amendment; Savings Provision note under section 453b of Title 6, Domestic Security.

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Bluebook (online)

41 U.S.C. § 4505, Counsel Stack Legal Research, https://law.counselstack.com/usc/41/4505.