federal_register: 02-32821

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document_number title type abstract publication_date pub_year pub_month html_url pdf_url agency_names agency_ids excerpts
02-32821 Prompt Payment Rule The Office of Management and Budget (OMB) is issuing a final revision to its rules on the Prompt Payment Act (PPA) to implement section 1010 of the National Defense Authorization Act for Fiscal Year 2001, as amended by section 1007 of the National Defense Authorization Act for Fiscal Year 2002. Section 1010 requires agencies to pay an interest penalty whenever they make an interim payment under a cost- reimbursement contract for services more than 30 days after the agency receives a proper invoice for payment from the contractor. Section 1007 states that the requirements of section 1010 apply to interim payments that are due on or after December 15, 2000 under any cost-reimbursement service contract regardless of when the contract was awarded. 2002-12-30 2002 12 https://www.federalregister.gov/documents/2002/12/30/02-32821/prompt-payment https://www.govinfo.gov/content/pkg/FR-2002-12-30/pdf/02-32821.pdf Management and Budget Office 280 The Office of Management and Budget (OMB) is issuing a final revision to its rules on the Prompt Payment Act (PPA) to implement section 1010 of the National Defense Authorization Act for Fiscal Year 2001, as amended by section 1007 of the National...

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