[Code of Federal Regulations]
[Title 14, Volume 5, Parts 1200 to end]
[Revised as of January 1, 2001]
From the U.S. Government Printing Office via GPO Access
[CITE: 14CFR1274.908]

[Page 463]
 
                     TITLE 14--AERONAUTICS AND SPACE
 
                          SPACE ADMINISTRATION
 
PART 1274--COOPERATIVE AGREEMENTS WITH COMMERCIAL FIRMS--Table of Contents
 
              Subpart I--Provisions and Special Conditions
 
Sec. 1274.908  Milestone payments.

                           Milestone Payments

                              October 2000

    (a) By submission of the first invoice, the Recipient is certifying 
that it has an established accounting system which complies with 
generally accepted accounting principles, with the requirements of this 
agreement, and that appropriate arrangements have been made for 
receiving, distributing, and accounting for Federal funds received under 
this agreement.
    (b) Payments will be made upon the following milestones: (The 
schedule for payments may be based upon the Recipient's completion of 
specific tasks, submission of specified reports, or whatever is 
appropriate.)

Date      Payment Milestone      Amount

    (c) Upon submission by the Recipient of invoices in accordance with 
the provisions of the agreement and upon certification by NASA of 
completion of the payable milestone, the grant officer shall authorize 
payment.
    (d) A payment milestone may be successfully completed in advance of 
the date appearing in paragraph (b) of this section. However, payment 
shall not be made prior to that date without the written consent of the 
Grant Officer.
    (e) The Recipient is not entitled to partial payment for partial 
completion of a payment milestone.
    (f) Unless approved by the Grant Officer, all preceding payment 
milestones must be completed before payment can be made for the next 
payment milestone.
    (g) Invoices hereunder shall be submitted in the original and five 
copies to the Grant Officer for certification.

[End of provision]