DFARS (DoD FAR Supplements) was amended today to provide for accelerated payments to all small business concerns. Until now, a small business must have also been "disadvantaged" in order to qualify for the accelerated payment program. Now, the term "disadvantaged" has been removed from the language at DFARS 232.903 and DFARS 232.906(a)(ii), thereby extending this payment policy uniformly to all small business concerns.
The basic "accelerated payment" policy is to pay small business concerns as quickly as possible after invoices and all proper documentation, including acceptance, are received and before normal payment due dates established in the contract (see DFARS 232.906(a)).
This is an interim rule because it was made without public comment. According to DoD, the action was necessary to ensure DoD implements cash flow improvements for small business firms as quickly as possible. Accelerating payments is a way to boost the financial health of small businesses. There is a two month public comment period, after which the interim rule will most likely become final, without change.
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