The Prompt Payment Act Answer Book

Chapter 10

Documentation

The Prompt Payment Final Rule specifies the minimum documentation required to support the payment of invoices and interest penalties. The three broad categories of documentation are contracts, invoices, and receiving reports.

133. What information from a contract is required as documentation to support an invoice or interest payment?

The Final Rule lists nine specific required pieces of information.¹

1. The payment due date, which will be one of the following:

   1. A specific stated payment date

   2. In accordance with discount terms when discounts are offered and taken

   3. In accordance with accelerated payment methods

   4. Thirty days after the start of the payment period (as defined in the Final Rule), if not otherwise specified in the ...