Abstract
As defense spending continues to spiral in our national economy, more and more of industry must become involved in defense contracts. Newcomers to the government contract field seem to believe that once they secure a contract, money flows from Uncle Sam in a steady and uninterrupted stream. Such is far from true. This article will place in proper perspective the position of the federal government in the financing of defense contracts. The Bible of defense financing is a ioo-page section of the appendices found in the Armed Services Procurement Regulation (ASPR), titled Appendix E, Defense Contract Financing Regulations. All references to sections herein, unless otherwise designated, will be to that important document.
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