Upon contract registration, the Fiscal Unit may issue an advance up to 25% of the total annual contract value, at the request of the contractor and in accordance with contract terms. The contractor must provide an advance memorandum and copy of a fidelity bond for the approved advance amount to the Contract Analyst who will then submit these documents to the Fiscal Analyst for payment. Generally, the advance will be recouped from fiscal cost reports submitted starting in January of each fiscal year, although repayment terms may be modified depending upon the terms upon which MOCJ and the contractor mutually agree.
Is it possible to get an advanced payment?
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