[Comments on Proposed Changes to Federal Acquisition Regulation]

B-223827: Published: Oct 21, 1986. Publicly Released: Oct 21, 1986.

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GAO commented on proposed changes to the Federal Acquisition Regulation (FAR). GAO noted that: (1) one change should be clarified to ensure that agencies timely accept deliveries for accounting purposes under the Prompt Payment Act; (2) one change should be clarified to note that the act's procedures only apply to contracts that specify no payment date; (3) the proposed changes were unduly restrictive with respect to interest penalties on contract progress payments; and (4) it did not object to minor changes regarding procurement from domestic small businesses.

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