3207. APPLICATION FOR ADVANCE PAYMENTS

3207 APPLICATION FOR ADVANCE PAYMENTS 3207.1 An eligible contractor may apply for advance payments before or after the award of a contract. 3207.2 The contractor or prospective contractor shall submit an advance payment request to the contracting officer in writing which provides the following information: (a) A reference to the contract if the request concerns an existing contract, or a reference to the solicitation if the request concerns a proposed contract; (b) A cash flow forecast showing estimated disbursements and receipts for the period of contract performance; (c) The proposed total amount of advance payments; (d) The name and address of the bank at which the contractor expects to establish a special depository account for the advance payments; (e) A description of the contractor's efforts to obtain private financing; (f) Whether the contractor is receiving or has applied to receive advance payments under any other current District contracts or solicitations; and (g) Other information appropriate to an understanding of the following: (1) The contractor's financial condition and need; (2) The contractor's ability to perform the contract without loss to the District; and (3) Financial safeguards that will be used to protect the District's interests. SOURCE: Final Rulemaking published at 35 DCR 1628 (February 26, 1988).