[USC05] 41 USC 4501: Authority of executive agency
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TEXT OF PART V OF SUBTITLE A (3001 ET SEQ.), EFFECTIVE JANUARY 1, 2022, CURRENTLY SET OUT AS A PREVIEW

41 USC 4501: Authority of executive agency Text contains those laws in effect on July 25, 2021
From Title 41-PUBLIC CONTRACTSSubtitle I-Federal Procurement PolicyDivision C-ProcurementCHAPTER 45-CONTRACT FINANCING

§4501. Authority of executive agency

An executive agency may-

(1) make advance, partial, progress or other payments under contracts for property or services made by the agency; and

(2) insert in solicitations for procurement of property or services a provision limiting to small business concerns advance or progress payments.

( Pub. L. 111–350, §3, Jan. 4, 2011, 124 Stat. 3790 .)

Historical and Revision Notes
Revised

Section

Source (U.S. Code)Source (Statutes at Large)
4501 41:255(a). June 30, 1949, ch. 288, title III, §305(a), 63 Stat. 396 ; July 12, 1952, ch. 703, §1(m), 66 Stat. 594 ; Pub. L. 85–800, §4, Aug. 28, 1958, 72 Stat. 966 ; Pub. L. 103–355, title II, §2051(a)(2), (c), Oct. 13, 1994, 108 Stat. 3304 .

Statutory Notes and Related Subsidiaries

Relationship to Prompt Payment Requirements

Pub. L. 103–355, title II, §2051(f), Oct. 13, 1994, 108 Stat. 3306 , provided that: "The amendments made by this section [see Tables for classification] are not intended to impair or modify procedures required by the provisions of chapter 39 of title 31, United States Code, and the regulations issued pursuant to such provisions of law (as such procedures are in effect on the date of the enactment of this Act [Oct. 13, 1994]), except that the Government may accept payment terms offered by a contractor offering a commercial item."