Common use of LIABILITY FOR UNCOMPLETED OR ERRONEOUS TRANSFERS Clause in Contracts

LIABILITY FOR UNCOMPLETED OR ERRONEOUS TRANSFERS. (1) If an uncompleted or erroneous transfer occurs because the Government failed to use the Contractor-provided EFT information in the correct manner, the Government remains responsible for (i) making a correct payment, (ii) paying any prompt payment penalty due, and (iii) recovering any erroneously directed funds. (2) If an uncompleted or erroneous transfer occurs because Contractor-provided EFT information was incorrect at the time of Government release of the EFT payment transaction instruction to the Federal Reserve System, and (i) If the funds are no longer under the control of the payment office, the Government is deemed to have made payment and the Contractor is responsible for recovery of any erroneously directed funds; or

LIABILITY FOR UNCOMPLETED OR ERRONEOUS TRANSFERS. (1) If an uncompleted or erroneous transfer occurs because the Government failed to use used the Contractor-provided 's EFT information in the correct mannerincorrectly, the Government remains responsible for for: (i) making Making a correct payment, ; (ii) paying Paying any prompt payment penalty due, ; and (iii) recovering Recovering any erroneously directed funds. (2) If an uncompleted or erroneous transfer occurs because the Contractor-provided 's EFT information was incorrect at the time incorrect, or was revised within thirty (30) days of Government release of the EFT payment transaction instruction to the Federal Reserve System, and and: (i) If the funds are no longer under the control of the payment office, the Government is deemed to have made payment and the Contractor is responsible for recovery of any erroneously directed funds; or