Federal Acquisition Regulation; Prompt Payment and the Recovery of Overpayment

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The Civilian Agency Acquisition Council and the Defense Acquisition Regulations Council (Councils) are proposing to amend the Federal Acquisition Regulation (FAR) to: Reflect changes made to the Office of Management and Budget (OMB) prompt payment regulations; Simplify and clarify the prompt payment coverage currently in the FAR; Require the contractor to notify the contracting officer if the contractor becomes aware of an overpayment; and Write all new and revised text using plain language in accordance with the White House memorandum, Plain Language in Government Writing, dated June 1, 1998.