Name, title, phone number and mailing address of the person to be notified in the event of a defective invoice.This must be the same person specified in the contract or in a proper notice of assignment. The name and address of the person at your company to whom payment is to be sent.Bill of lading number and weight of shipment will be shown for shipments on government bills of lading. Shipping and payment terms, such as shipment number and date of shipment, prompt payment discount terms, etc.Description, quantity, unit of measure, unit price and extended price of supplies delivered or services performed.Be sure to also include the order number and contract line item number. Contract number or other authorization for supplies delivered or services performed.You are encouraged to date invoices as close as possible to the date of mailing or transmitting the invoice. To make sure that your invoice is correct and proper the first time around, include the following items: Therefore, "prompt payment" by the government is directly tied to the "properness" of your invoice. You will then have to correct it, resubmit it to the government, and restart the 30-day wait. If your invoice is not deemed "proper," it will get sent back to you within seven days after the billing office received it, with a statement of the reasons why it is not considered proper. The clock on this Act starts only if your invoice, as received, is deemed "proper" under the law. However, as you might expect, there is an important catch. The Prompt Payment Act, which was enacted in the mid-'80s, requires the government to pay a small business within 30 days after receipt of the invoice, if the business completes its end of the contract. The government is generally required to pay you for work on a government contract within 30 days, and it usually requires the use of electronic fund transfers.Īfter you have delivered, and the government has accepted, the contracted product or service, all you have to do is submit a proper invoice to the billing office specified in your contract and you're going to get paid! Under law, the government is required to pay you within 30 days.įor all of the conditions and requirements for payment, refer to Federal Acquisition Regulation (FAR) 52.232-25.
0 Comments
Leave a Reply. |