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The Prompt Payment Act Answer Book by William G. Arnold

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Chapter 7

Standards for Prompt Payment

The Prompt Payment Act and the Final Rule impose a number of specific requirements, or standards, on agencies. Many of these standards have time limits for agency action. An understanding of these rules is necessary for the proper calculation of payment due dates and interest penalties, which will be discussed in later chapters.

When you read the rules in the Final Rule, some may seem quite daunting. This chapter will break them down into logical components and explain their effects in simple terms.

86. How can I determine the date an invoice is received?

This seemingly simple question is actually one of the most difficult Prompt Payment questions to answer. It is difficult to answer partly be cause the ...

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