Overview
This section prescribes Standard Form (SF) 1443 as the required instrument for contractors to submit formal requests for progress payments under federal government contracts.
Key Rules
- Form Identification: SF 1443 is titled "Contractor’s Request for Progress Payment."
- Prescribed Use: The form is mandatory for contractors when seeking progress payments, which are a form of contract financing generally based on costs incurred.
- Current Version: The regulation specifies the November 2021 version of the form.
- Regulatory Context: This section falls under FAR Part 53, which standardizes the forms used to implement FAR-prescribed policies and procedures.
Practical Implications
- Contractors must use this specific form to ensure their payment requests are processed; using outdated versions or alternative formats can lead to administrative rejection and payment delays.
- SF 1443 is a vital tool for maintaining contractor cash flow on long-term fixed-price contracts where final delivery and payment may be months or years away.