252.232-7015 — Performance-Based Payments—Representation.
Researched by the BidStride Research Team
What This Clause Requires
DFARS 252.232-7015 — Performance-Based Payments—Representation.. This clause is part of the Defense Federal Acquisition Regulation Supplement and applies specifically to Department of Defense contracts.
Official Regulation Text
252.232-7015 Performance-Based Payments—Representation. As prescribed in 232.1005-70(b), use the following provision: Performance-Based Payments—Representation (DEC 2022) (a) In accordance with 10 U.S.C. 3802(c), the Contractor's financial statements shall be in compliance with Generally Accepted Accounting Principles in order to receive performance-based payments. (b) The Offeror represents that its financial statements are [ ] are not [ ] in compliance with Generally Accepted Accounting Principles. (End of provision) [85 FR 19691, Apr. 8, 2020, as amended at 87 FR 76998, Dec. 16, 2022]
Compliance Checklist
- 3802(c), the Contractor's financial statements shall be in compliance with Generally Accepted Accounting Principles in order to receive performance-based payments.
Flow-Down to Subcontractors
No flow-down required
This clause applies only to the prime contract and does not need to be flowed down to subcontractors.
Frequently Asked Questions
DFARS 252.232-7015 (Performance-Based Payments—Representation.) is a Defense Federal Acquisition Regulation Supplement clause applicable to Department of Defense contracts.
DFARS 252.232-7015 is typically required in DoD contracts when the contracting officer determines it's applicable. Check Section I of your solicitation.
Flow-down requirements vary. Review the specific clause text for subcontractor applicability provisions.
This summary is for informational purposes only and reflects the BidStride Research Team's plain-English interpretation of the regulation. It is not legal advice and does not constitute an attorney-client relationship. Always consult the official Federal Acquisition Regulation (FAR) or Defense Federal Acquisition Regulation Supplement (DFARS) text and qualified legal counsel for compliance decisions.