There is a newer version
of
this Section
2019 US Code
Title 41 - Public Contracts
Subtitle I - Federal Procurement Policy
Division C - Procurement
Chapter 45 - Contract Financing
Sec. 4503 - Security for advance payments
Download PDF
41 U.S.C. § 4503 (2019) | ||||||
§4503. Security for advance payments | ||||||
Advance payments under section 4501 of this title may be made only on adequate security and a determination by the agency head that to do so would be in the public interest. The security may be in the form of a lien in favor of the Federal Government on the property contracted for, on the balance in an account in which the payments are deposited, and on such of the property acquired for performance of the contract as the parties may agree. This lien shall be paramount to all other liens and is effective immediately upon the first advancement of funds without filing, notice, or any other action by the Federal Government. |
||||||
(Pub. L. 111–350, §3, Jan. 4, 2011, 124 Stat. 3791.) |
||||||
|
||||||
United States Code, 2018 Edition, Supplement 1, Title 41 - PUBLIC CONTRACTS | ||||||
Bills and Statutes | ||||||
United States Code | ||||||
Y 1.2/5: | ||||||
Title 41 - PUBLIC CONTRACTS Subtitle I - Federal Procurement Policy Division C - Procurement CHAPTER 45 - CONTRACT FINANCING Sec. 4503 - Security for advance payments |
||||||
section 4503 | ||||||
2019 | ||||||
January 24, 2020 | ||||||
Yes | ||||||
standard | ||||||
63 Stat. 396 66 Stat. 594 72 Stat. 966 108 Stat. 3304 124 Stat. 3791 |
||||||
Public Law 85-800, Public Law 103-355, Public Law 111-350 |
Disclaimer: These codes may not be the most recent version. United States may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.