Missouri Receipt and Acceptance of Partial Delivery of Goods
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How to fill out Receipt And Acceptance Of Partial Delivery Of Goods?
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FAQ
In 1982, Congress passed the Prompt Payment Act to require Federal agencies to pay their bills on a timely basis; to pay interest penalties when payments are made late, and to take discounts.
Missouri Private Prompt Payment Act Under the Private Prompt Pay Act, any person who makes a contract for private design or construction work must make all scheduled payments pursuant to the terms of the contract. § 431.180.
Notwithstanding any other payment clause in this contract, the Government will make invoice payments under the terms and conditions specified in this clause. The Government considers payment as being made on the day a check is dated or the date of an electronic funds transfer (EFT).
In exchange, the federal ?Prompt Payment Act? provides that the Federal Government will automatically pay interest on valid invoices that are not paid ing to the terms of the contract and the government's cash management practices.
The Prompt Payment Act requires State agencies to pay properly submitted, undisputed invoices within 45 calendar days of initial receipt. If the requirement is not met, State departments must automatically calculate and pay the appropriate late payment penalties as specified in Government Code section 927, et seq.
