Revised DoD Progress Payment Practices

Abstract

Progress payments are a type of contract financing that DoD routinely uses to purchase weapon system items that have long production lead-times Periodic payments are made to contractors based on either the contractor's progress or on the basis of the cost incurred before the item is delivered to DoD. Military Department weapon system contracts and other contracts with progress payment clauses are maintained in the Mechanization of Contract Administration Services (MOCAS) system at the Defense Finance and Accounting Service (DFAS) Columbus. MOCAS maintained information on 321,946 contracts with obligations of $846 billion as of January 31, 2001. DFAS Columbus disbursed approximately $9.8 billion in progress payments on all contracts during FY 2000.

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Document Details

Document Type
Technical Report
Publication Date
Sep 27, 2001
Accession Number
ADA395683

Entities

Organizations

  • Office of the Inspector General, U.S. Department of Defense

Tags

Communities of Interest

  • Weapons Technologies

DTIC Thesaurus Topics

  • Acquisition
  • Air Force
  • Business Administration
  • Contract Administration
  • Contractors
  • Contracts
  • Department Of Defense
  • Finance
  • Financial Management
  • Fixed Price Contracts
  • Governments
  • Management Personnel
  • Navy
  • Organizational Structure
  • Procurement
  • Test And Evaluation
  • Weapon Systems

Fields of Study

  • Political science

Readers

  • Defense Financial Management and Audit.
  • Government Contracting/Procurement.