Regulacje i polityka gospodarcza · 29.09.1999

Prompt Payment

OMB is issuing final revisions to its rules on the Prompt Payment Act, which have been found in Circular A-125. The revisions address the increased use of electronic commercial financial systems; promote the use of government credit cards and accelerated payment methods; reflect new requirements of the Debt Collection Improvement Act of 1996 and the recent repeal of the annual agency Prompt Payment reporting requirement; clarify and simplify language; and announce a toll-free number and internet website for Prompt Payment Act information. Finally, in addition to revising the Prompt Payment rules, OMB is also adopting them as codified regulations in the Code of Federal Regulations. OMB's issuance of codified regulations has the effect of superceding and rescinding Circular A-125 (``Prompt Payment'').