The Defense Department will begin to apply customary progress payment rates for large companies signing new contracts on or after July 7, but will keep the more generous pandemic-era rates in place for existing contracts. In April 2020, DOD increased the progress payment rate for large businesses from 80% to 90% and the small business progress payment rate from 90% to 95% to head-off potential disruptions to the defense industrial base related to the COVID-19 pandemic. DOD will now return...
