The Prompt Payment Act requires the government to pay an interest penalty when it fails to make a payment by the required payment date. But, for CDA statute of limitations purposes, when does that penalty claim accrue? This issue was addressed in the recent Public Warehousing Co. (May 2, 2016) decision, where the Board
Prompt Payment Act
OMB Establishes New Policy of Accelerated Payments to Small Business Contractors But Will It Work?
By Crowell & Moring on
Posted in Small Business
A memorandum issued by the Office of Management and Budget on Wednesday, September 14, 2011, establishes a new Executive Branch policy that agencies should pay small business government contractors within 15 days of receiving proper invoicing documents. Currently, agencies are required to pay contractors within 30 days of receiving proper documentation under the Prompt Payment…