LHTS__Interim_Payments.doc

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Attached to
Linear Hydraulic Test Stand Federal contract opportunity
Solicitation number
N6833517R0384
Issued by
Department of the Navy Naval Air Systems Command Naval Air Warfare Center

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Contract Financing

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Text version

RECOMMENDED PERFORMANCE BASED/COMMERCIAL INTERIM PAYMENTS

FY18 LINEAR HYDRAULIC TEST STAND (UPGRADE)

MILESTONE PAYMENT

DESCRIPTION

ACCOMPLISHMENT

EXPECTED

METHOD OF VERIFICATION
MILESTONE

PAYMENT PERCENTAGE

Post Award Conference/Plan of Actions and Milestones
Completion of PAC (Para.4.1)
Email from COR/TPOC to CO verifying completion
10%
Joint Design Review (JDR)
Completion of JDR (Para.4.4)
Email from COR/TPOC to CO verifying acceptance
10%
Final Acceptance Test Plan (FATP)
Completion of FATP (Para.3.20.13)
Email from COR/TPOC to CO verifying completion
20%
Delivery of Equipment
Delivery of equipment and all associated items.
Email from COR/TPOC to CO verifying completion
20%

SUBTOTAL OF MILESTONE PAYMENTS

60%

BALANCE UPON COMPLETION OF REMAINING DELIVERABLES, INSTALLATION, OPEN ACTION ITEMS, FINAL ACCEPTANCE TEST, & TRAINING OF STAND
LAST DELIVERABLES RECEIVED; INSTALLATION COMPLETED ALL OPEN ACTION ITEMS COMPLETED, FAT & TRAINING COMPLETED
Email from COR/TPOC to CO verifying completion
40%

Special Note: Contract financing payments will be authorized for 60% of the total contract value. The remaining 40% balance of the contract value may be invoiced after completion of all remaining contact requirements including, installation, Final Acceptance Testing, training, submittal of all remaining documentation, and satisfactory completion of all punch list items.

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