Overview
This section establishes the procedures for handling Electronic Funds Transfer (EFT) data when collected during the solicitation phase, ensuring that successful offerors are not burdened with redundant reporting requirements after a contract is awarded.
Key Rules
- No Redundant Submission: If EFT information is provided prior to award, the successful offeror is exempt from resubmitting that data post-award.
- Exceptions for Resubmission: Contractors must only resubmit EFT information to report changes to their data or if specific agency procedures require the information to be included on invoices.
- Administrative Responsibility: Contracting officers (COs) are legally mandated to forward the EFT information provided by the winner to the appropriate payment or financial office.
Practical Implications
- Administrative Efficiency: This rule reduces the "paperwork" burden on contractors, allowing them to focus on performance rather than repeating administrative tasks.
- Internal Coordination: It places the responsibility on the government's internal systems to ensure the payment office receives the necessary banking data collected by the contracting office.