Question

All of the following conditions must be met before the contracting officer may acknowledge an assignment of claims except the:
a. assignee must provide written notice of assignment with a true copy of the assignment instrument.
b. payment(s) will be $1,000 or more.
c. contract does not expressly prohibit assignment.
d. assignee is another company.

Answer 1

Answer:

Option a

Explanation:

A conditions are needs that are to be meant in order to complete an action.

Assignment of Claims Act: This claim to a company to give money due or to become due under a contract, but only if certain conditions are met. It gives contractor the right to assign claims to payment on a Government contract so as to be able to finance the contract endeavor.

An assignment of claims can be given if all the following conditions are met:

a. Each payment should be assignment will be for $1,000 or more for this assignment claim

b. The assignment is made to a bank, trust company, or other financing institution, lending agency.