Regulacje i polityka gospodarcza · 30/12/2002

Prompt Payment Rule Revision by OMB

The Office of Management and Budget (OMB) is issuing a final revision to its rules on the Prompt Payment Act (PPA) to implement a new requirement for agencies to pay interest penalties on delayed payments under cost-reimbursement contracts. The rule applies to payments due on or after December 15, 2000, and aims to improve prompt payment practices in the federal government.