A bill to prohibit the Secretary of Defense or Secretary of a military department to enter into any overseas contract that allows for the payment of severance pay greater than the typical rate of severance pay in the United States or that requires the Government to reimburse a contractor for overseas banking services for bad debt expenses.

[AI summary unavailable — showing source text] Prohibits the Secretary of Defense or the Secretary of a military department (the Secretaries) from entering into an overseas contract if such contract contains any provision which allows for the payment of contractor employee severance pay greater than the prevailing severance pay in the United States. Prohibits the Secretaries from entering into an overseas contract for the provision of banking services if such contract contains any provision which allows the contractor to be reimbursed by the Secretary for: (1) losses arising from uncollectible checks and loans made by authorized bank employees; and (2) any reasonable costs incurred in the collection of delinquent loans and dishonored checks.…