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Prompt Payment Act
Prompt Payment Act - Interest Rate Increase
Posted on July 11, 2007 in Prompt Payment Act
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.
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