Tag Archives: prompt payment

Government Shutdown: Day 24

The partial government shutdown began at midnight on December 21, 2018. As the shutdown entered its twentieth-fourth day, many government contractors were rightfully concerned about the status of negotiations between Congress and the president, the length of the shutdown, and its impact on their current and future contracts. As for the status of White House/Capitol Hill negotiations and the likely length of the shutdown, it is hard to say. Continue reading Government Shutdown: Day 24

Issuance of Prompt Payment Interest Rate

By: Kelly Lynch

On June 28, 2013, the Department of the Treasury issued the new prompt payment interest rate at 1.75 percent for the period from July 1 to December 31, 2013. This rate increased from 1.375 percent, the rate effective from January 1 to June 30,2013.

The prompt payment interest rate is a penalty applied to federal agencies that fail to pay for purchased goods or services by the required payment date.

See http://www.fms.treas.gov/prompt/rates.html for historical prompt payment interest rates.

Continue reading Issuance of Prompt Payment Interest Rate