Local Clause - Electronic Funds Transfer Payment for Foreign Firms - Final MAR 2026.pdf

ELECTRONIC TRANSFER OF FUNDS PAYMENTS – FEDERAL RESERVE WIRE TRANSFER SYSTEM (NAVSUPFLCY MAR 2026)

(a) Definitions.

Beneficiary, as used in this clause, means the name of the owner of the bank account designated to receive the payment. This name must exactly match the name on the bank's account records.

International Bank Account Number (IBAN), as used in this clause, means and international standard for identifying a specific bank account, used for transactions involving European, Middle Eastern, and other participating countries.

Recipient, as used in this clause, means the contractor who is the legal entity entitled to payment under the terms of this contract.

Sort Code, as used in this clause, means a six-digit number that identifies a specific bank and branch location within the United

Kingdom.

SWIFT Code, as used in this clause, means the Society for Worldwide Interbank Financial Telecommunication code, an 8 or 11-character code that identifies a specific bank for international transactions. This may also be known as the Bank Identifier Code

(BIC).

Unique Entity ID (UEI), as used in this clause, means the official identifier assigned by the System for Award Management

(SAM.gov) to all entities doing business with the federal government.

(b) Information Submission. The Contractor shall supply the following information to the Contracting Officer no later than 5 days after contract award and before submission of the first request for payment. The bank designated as the receiving bank must be capable of receiving Federal wire transactions via either a SWIFT Code or an IBAN.

(c) Changes to Information. Any change by the Contractor in the designation of the bank account to receive electronic transfer of funds in accordance with this provision must be received by the Contracting Officer no later than 30 days prior to the date the change is to become effective.

(d) No Assignment of Funds. The electronic transfer of funds does not constitute an assignment of such funds in any form or fashion.

COMPLETE THE FOLLOWING INFORMATION (TYPE WRITTEN OR CLEAR PRINTING)

RECIPIENT’S NAME: ______________________________________________

(DO NOT EXCEED 25 CHARACTERS)

CONTRACT NUMBER: ______________________________________________ (Contracting Officer fill-in)

RECIPIENT’S CAGE CODE: __________________

[ ] CHECKING TYPE 22 (Payment is a standard ACH credit to a checking account)

[ ] SAVINGS TYPE 32 (Payment is a standard ACH credit to a savings account)

RECIPIENT’S UEI NUMBER: ______________________________________________

BENEFICIARY’S BANK NAME: ______________________________________________

(DO NOT EXCEED 29 CHARACTERS)

BENEFICIARY’S BANK ADDRESS: ______________________________________________

(DO NOT EXCEED 25 CHARACTERS)

(DO NOT EXCEED 25 CHARACTERS)

BENEFICIARY’S BANK ACCOUNT NUMBER: ______________________________________________

BENEFICIARY’S BANK SWIFT NUMBER: ______________________________________________

(EITHER 8 OR 11 CHARACTERS ONLY)

IBAN NUMBER: ______________________________________ (If applicable)

BENEFICIARY’S BANK SORT CODE: __________________ (If applicable)

(6 CHARACTERS ONLY)

(e) CONTRACTOR’S DESIGNATED OFFICIAL SUBMITTING ELECTRONIC FUNDS TRANSFER INFORMATION.

NAME: ______________________________________________

(DO NOT EXCEED 25 CHARACTERS)

TITLE: ______________________________________________

(DO NOT EXCEED 25 CHARACTERS)

TELEPHONE NUMBER: ______________________________________________

SIGNATURE _______________________________________________________

(f) Notwithstanding any other provision of the contract, the requirements of this provision shall control.