CON 216- Assignment of Claims

Question 1

Identify the process for assigning a claim:

Answer 1

• Determine if an assignment of claims is permitted.
• Determine if an assignment of claims has already been made.
• If assignment already made, identify the problems.
• If assignment has not already been made, analyze the documents and check for issues and problems.
• Advise the assignee (bank) that an assignment of claims is going to be processed and discuss.
• Sign acknowledgements or determine and fix problems.
• Process all documents to include sending copies to the PCO, DFAS and bank.
• Issues a Release of Claims and send out copies to the same as in #7 above.

Question 2

Recognize and assignment of claims:

Answer 2

An assignment of claims is a form of private contractor financing.
The payments for work done under the contract can be assigned to a bank or financial institution as collateral.
The rights to a government contract, other than payment to a financial institution for work completed and accepted, cannot be assigned.