Wednesday, July 11, 2007

Prompt Payment Act - Interest Rate Increase

The Treasury Department has raised the interest rate under the Prompt Payment Act from 5-1/4% to 5-3/4% for the period July 1 - December 31, 2007. This is the rate at which contractors are to be paid interest for payments made after 30 days from the government's receipt of the contractor's invoice.

1 comment:

Ebony said...

People should read this.