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EFT (see paragraph (j) of this clause). The Contractor shall provide this information directly to the
NNPS Accounting Department (hereafter referred to as “Accounting”) no later than 15 days prior
to submission of the first request for payment. In the event that the EFT information changes, the
Contractor shall be responsible for providing the updated information to the Accounting.
(2) If the Contractor provides EFT information applicable to multiple contracts, the Contractor
shall specifically state the applicability of this EFT information in terms acceptable to
Accounting.
(c) Mechanisms for EFT payment. NNPS may make payment by EFT through the Automated Clearing
House (ACH) network, subject to the rules of the National Automated Clearing House Association
(d) Suspension of payment.
(1) The NNPS is not required to make any payment under this contract until after receipt, by
Accounting, of the correct EFT payment information from the Contractor. Until receipt of the
correct EFT information, any invoice or contract financing request shall be deemed not to be a
proper invoice for the purpose of prompt payment under this contract.
(2) If the EFT information changes after submission of correct EFT information, NNPS shall begin
using the changed EFT information no later than 30 days after its receipt by Accounting to the
extent payment is made by EFT. However, the Contractor may request that no further payments be
made until the updated EFT information is implemented by Accounting. If such suspension would
result in a late payment under the prompt payment terms of this contract, the Contractor’s request
for suspension shall extend the due date for payment by the number of days of the suspension.
(e) Liability for uncompleted or erroneous transfers.
(1) If an uncompleted or erroneous transfer occurs because NNPS used the Contractor’s
EFT information incorrectly, NNPS remains responsible for—
(i) Making a correct payment;
(ii) Paying any prompt payment penalty due; and
(iii) Recovering any erroneously directed funds.
(2) If an uncompleted or erroneous transfer occurs because the Contractor’s EFT information was
incorrect, or was revised within 30 days of NNPS’ release of the EFT payment transaction, and—
(i) If the funds are no longer under the control of Accounting, NNPS is deemed to have made
payment and the Contractor is responsible for recovery of any erroneously directed funds; or
(ii) If the funds remain under the control of Accounting, NNPS shall not make payment and
the provisions of paragraph (d) shall apply.
(f) EFT and prompt payment. A payment shall be deemed to have been made in a timely manner in
accordance with the prompt payment terms of this contract if, in the EFT payment transaction
instruction released to the Federal Reserve System, the date specified for settlement of the
payment is on or before the prompt payment due date, provided the specified payment date is a
valid date under the rules of the Federal Reserve System.
(g) EFT and assignment of claims. If the Contractor assigns the proceeds of this contract as
provided for in the assignment of claims terms of this contract, the Contractor shall require as a
condition of any such assignment, that the assignee shall provide the EFT information required by
paragraph (j) of this clause to Accounting and shall be paid by EFT in accordance with the terms of
this clause. In all respects, the requirements of this clause shall apply to the assignee as if it were
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