prompt payment

Prompt Payment

The Prompt Payment rule ensures that federal agencies pay vendors in a timely manner.

Prompt Payment assesses late interest penalties against agencies that pay vendors after a payment due date.

This rate was established under the Contract Disputes Act and is referred to as the "Renegotiation Board Interest Rate," the "Contract Disputes Act Interest Rate," and the "Prompt Payment Act Interest Rate."

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Contacts

  • For more information on the Prompt Payment interest rates please call 1-800-266-9667 or (202) 874-9130.

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Updated July 01, 2014
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