Assignment 12 – Payment and Financing

  After reading the assignment and any provided supplemental material, answer the following questions:

1.    What is performance based payment?
2.    What is the Prompt Payment Act?  What does it provide?
3.    What are progress payments and when are they used?
4.    Does the government provide financing for the purchase of commercial items and if so where?
5.    What do you think of the policy on advance payments and what would you recommend?
6.    What is discharge?
7.    What is Accord and Satisfaction?