The Wanabee Big Corp., a small, high-tech defense contractor, possesses technical abilities considered essential to the Department of Defense. Wanabee manufactures several key, military-unique components for the critical F-29 fighter jet. Unfortunately, the company’s financial condition is weak. The chief executive officer (CEO) recently contacted the government procuring contracting officer (PCO) and requested advance payments on a just-signed $18 million contract. The PCO has determined that Wanabee meets all the statutory requirements and standards. What action should the PCO now take?
a)Recommend that the agency authorize non-commercial advance payments since Wanabee’s technical ability is considered essential to the agency.
b)Instruct Wanabee to initiate paperwork to get a loan guarantee through the Federal Reserve Bank instead of advance payments.
C)Inform Wanabee that the risk associated with their weak financial condition automatically makes them ineligible for any type of financing.
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Get Help Now!D)Provide commercial advance payments, but continue to closely monitor the contractor’s performance and financial condition to reduce the government’s financial risk.
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