FAR EFT Payment Clause in All Contracts

4. Include the EFT payment clause from the Federal Acquisition
Regulations in all contracts.

The Director of the Office of Management and Budget (OMB) should set the
policy and the Secretary of the Treasury should issue requirements for
all agencies to implement this by October 1994. All businesses with
federal contracts would be paid through EFT after that point. All
contracts should include the electronic funds transfer payment methods
clause in the Federal Acquisition Regulations beginning October
1994.[Endnote 3]