52.232-33
PAYMENT BY ELECTRONIC FUNDS TRANSFER
(MAY 1999)
(a) Method of payment. (1) All payments by the Government under this contract shall
be made by electronic funds transfer (EFT), except as provided in paragraph
(a(2)or(b)of this clause. As used in this clause, the term EFT refers to the funds
transfer and may also include the payment information transfer.
(2) In the event the Government is unable to release one or more payments by
EFT, the Contractor agrees to either-
(i) Accept payment by check or some other mutually agreeable method of payment; or
(ii) Request the Government to extend the payment due date until such time as the
Government can make payment by EFT (but see paragraph (e) of this clause).
(b) Alternative contractor certification. If the Contractor certifies in
writing, as part of its registration with the Central Contractor Registration
(CCR) database (FAR 4.503), that it does not have an account with a financial
institution and does not have an authorized payment agent, payment shall be
made by check to the remittance address contained in the CCR database. All
contractor certifications will expire on January 1, 1999.
(c) Contractor's EFT information. Except as provided in paragraph (b) of this
clause, the Government shall make payment to the Contractor using the EFT
information contained in the CCR database. In the event that the EFT
information changes, the Contractor shall be responsible for providing the
updated information to the CCR database.
(d) Mechanisms for EFT payment. The Government may make payment by EFT through
either an Automated Clearing House (ACH) subject to the banking laws of the
United States or the Federal Reserve Wire Transfer System.
(e) Suspension of Payment. If the Contractor's EFT information in the CCR
database is incorrect and the Contractor has not certified under paragraph
(b) of this clause, then the Government need not make payment to the
Contractor under this contract until correct EFT information or certification
is entered into the CCR database; and any invoice or contract financing
request shall be deemed not to be a proper invoice for the purpose of prompt
payment under this contract. The prompt payment terms of the contract
regarding notice of an improper invoice and delays in accrual of interest
penalties apply.
(f) Contractor EFT arrangements. If the Contractor has identified multiple
payment receiving points (i.e., more than one remittance address and/or EFT
information set) in the CCR database, and the Contractor has not notified the
Government of the payment receiving point applicable to this contract, the
Government shall make payment to the first payment receiving point (EFT
information set or remittance address as applicable) listed in the CCR
database.
(g) Liability for uncompleted or erroneous transfers. (1) If an uncompleted or
erroneous transfer occurs because the Government failed to use the
Contractor's EFT information in the correct manner, the Government remains
responsible for--
(i)
Making a correct payment;
(ii) Paying any prompt payment penalty due; and
(iii) Recovering any erroneously directed funds.
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