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[Decision Concerning Army Corps of Engineers Distribution of Contract Retainage to Unpaid Subcontractors]

B-231719: Dec 29, 1988

A decision was requested concerning a proposed payment agreement regarding disbursement of contract retainage to two subcontractors of an Army Corps of Engineers prime contractor that discovered that its payment and performance bonds were counterfeit. GAO held that the Army properly executed indemnity agreements for the prime contractor and the subcontractors that would result in a prorated distri...

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B-231719, Dec 29, 1988, 88-2 CPD 633

B-231719: Dec 29, 1988

PROCUREMENT - Payment/Discharge - Payment priority - Subcontractors DIGEST: The Army Corps of Engineers may distribute contract retainage to unpaid subcontractors if both the subcontractors and the primary contractor agree to an indemnity agreement which warrants that there are no other creditors and which calls for immediate repayment of contract retainage to the Government upon discovery of othe...

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[Comments on Payment of Claim for Pump Station]

B-231719: Published: Dec 29, 1988. Publicly Released: Dec 29, 1988.

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