The Department of Defense (DoD) is inviting public feedback on a pilot program aimed at enhancing performance under contracts by increasing the progress payment rate. This program is part of the 2024 National Defense Authorization Act and will offer incentives for meeting specific, measurable criteria. Businesses in the Defense Industrial Base are encouraged to share their opinions, especially concerning the eligibility and incentive criteria. The program will focus on improving payment times to subcontractors to boost cash flow throughout the supply chain.
Simple Explanation
The Department of Defense wants ideas from people on a new program to reward businesses for doing a good job on their projects by giving them money faster. They are trying to make sure everyone in the chain of people they work with gets their payments more quickly.