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.

2007-07-11T19:30:00+00:00July 11th, 2007|Prompt Payment Act|