You can manage contracts throughout their life cycle by providing and confirming payment information.
The prime contractor is responsible for providing payment information for each subcontractor of the contract, and for indicating when the final payment has been received from the contracting organization so that the contract can be closed out.
Receive contract notification - You may receive a notification letter stating you are the prime contractor for the contract. This letter may include the requirements for the contract compliance process and a list of approved subcontractors.
Receive audit notice - For the duration of the contract, you receive a monthly audit notice by email and/or fax that alerts you to provide payment information for the designated time period. If you do not respond within a time period set by the contracting organization, you will be reminded.
Respond to audit notice - Provide the payment information for each subcontractor in a timely manner. For further instructions, refer to Completing Contract Compliance Audits as Prime Contractor.
Respond to audit discrepancy notices - On occasion your subcontractors may dispute the payment amount that you reported. For further instructions, refer to Responding to an Audit Discrepancy.
Track your performance - The audits display your performance to date for the contract relative to the goal. Be proactive in ensuring that you meet or exceed the goal.
Notify contracting organization of changes to subcontractor list - When you need to make a change to your subcontractor list to remove or add a subcontractor, you must follow the procedure specified by the contracting organization. For further instructions, refer to Making Changes to Your Subcontractor List.
Notify contracting organization of the final audit - when you have received the final payment for your contract, you may need to notify the contracting organization of its receipt so that the contract can be closed out. For further instructions, refer to Completing Contract Compliance Audits as Prime Contractor.
The subcontractor is responsible for confirming the contract payment information provided by the prime contractor, and for indicating when they have received their final payment so that the auditing of that specific subcontractor can be stopped.
Receive contract notification - You may receive a notification letter stating you are a subcontractor for the contract. This letter may include the requirements for the contract compliance process.
Receive audit notice - For the duration of the contract, you receive a monthly audit notice by email and/or fax that alerts you to confirm payment information for the designated time period. If you do not respond within a time period set by the contracting organization, you will be reminded.
Respond to audit notice - Confirm the payment information in a timely manner. For further instructions, refer to Completing Contract Compliance Audits as Subcontractor.
Respond to audit discrepancy notices - On occasion you may dispute the payment amount that your prime contractor reported. For further instructions, refer to Responding to an Audit Discrepancy.
Track your performance - The audits display your performance to date for the contract relative to the goal. Be proactive in ensuring that you meet or exceed the goal.
Notify contracting organization of the final payment - when you have received the final payment for your subcontract, you can indicate this on your response so that you are not included on any future audits of the contract. For further instructions, refer to Completing Contract Compliance Audits as Subcontractor.