[Code of Federal Regulations]
[Title 48, Volume 3]
[Revised as of October 1, 2002]
From the U.S. Government Printing Office via GPO Access
[CITE: 48CFR245.7309-4]

[Page 351]
 
            TITLE 48--FEDERAL ACQUISITION REGULATIONS SYSTEM
 
                    CHAPTER 2--DEPARTMENT OF DEFENSE
 
PART 245--GOVERNMENT PROPERTY--Table of Contents
 
          Subpart 245.73--Sale of Surplus Contractor Inventory
 
Sec. 245.7309-4  Payment.

    (a) Purchaser agrees to pay the full purchase price for awarded 
property at the prices quoted in the bid. Unless an adjustment is 
required pursuant to Condition 245.7306-8, Variations in Quantity or 
Weight, payment must be made within the time specified for removal and 
prior to delivery of any of the property. In the event that any 
adjustment is made, payment must be made immediately after such 
adjustment.
    (b) The full purchase price, or balance if a bid deposit was 
required, shall be paid to the Contractor in cash or by certified check, 
cashier's check, traveler's check, bank draft, or postal or express 
money order. The Contractor is not required to extend credit to any 
purchaser.
    (c) The Contractor reserves the right to apply any bid deposits made 
under this Invitation by a bidder against any amounts due under a 
contract awarded by the Contractor under this Invitation. If the total 
sum due to the contractor is less than the amount deposited with the 
bid, the difference shall be promptly refunded. Deposits accompanying 
bids which are not accepted shall be promptly returned.