Loading
http://www.nacm.org/modules/mod_image_show_gk4/cache/slider_rotation.demystify_tci_bannergk-is-528.jpglink
http://www.nacm.org/modules/mod_image_show_gk4/cache/slider_rotation.cc15-banner1-oct-2014gk-is-528.jpglink
http://www.nacm.org/modules/mod_image_show_gk4/cache/slider_rotation.bookstore-banner-oct_2014gk-is-528.jpglink
http://www.nacm.org/modules/mod_image_show_gk4/cache/slider_rotation.knowledge-ctr-oct-banner_2014gk-is-528.jpglink
http://www.nacm.org/modules/mod_image_show_gk4/cache/slider_rotation.credit_managers_index_sept_2014gk-is-528.jpglink
http://www.nacm.org/modules/mod_image_show_gk4/cache/slider_rotation.clc_sept_2014gk-is-528.jpglink
«
  • Demystifying Trade Credit Insurance
  • Credit Congress 2015
  • Bookstore
  • Knowledge & Learning Center
  • Credit Managers' Index
  • Advanced Credit Policy
»
2009 Fiscal Year Starts October 1!
Bill Blumberg Update

We are pleased to announce that Bill Blumberg has written a book, Blumberg's Laws: Getting Paid By Uncle Sam. Many of you know Bill as a great supporter of NACM and government vendors. He worked 30 years for the Department of Defense and was one of NACM’s Government Business Group original speakers. If you were fortunate to hear Bill's presentations, then you know that Bill knew government vendor payables. Visit Bill’s law website at http://www.blumbergslaws.com/. You can purchase Bill's book from the NACM Bookstore. Visit http://web.nacm.org and click on “Bookstore” in the left-hand menu.

Accounts Payable Fraud

With an increasing amount of government invoices each year, the government is being more vigilant about accounts payable fraud and abuse. The government has increased audits of government vendors to try and detect potential vendor abuse. Federal government agencies have seen an increase in duplicate invoicing, miscalculations, payments for unsupported or inadequately supported claims, payments for services not rendered, missed discounts and missed credits and payments resulting from outright fraud and abuse. Remember that vendors must comply with the Federal Acquisition Regulation (FAR) when dealing with any federal government agency. The contractor has the initial responsibility to submit a correct invoice for payment. FAR 52.232-25(a)(3) states "the costs that the contractor claims must be allowable, and within terms of the contract."

Offsets Against Contractor Debts

Have your ever received a notice from the Treasury Offset Program? The government has the right to offset your government receivables for the following reasons:

  1. Unpaid back taxes
  2. Assessment of liquidated damages
  3. Damages or excess costs related to defaults
  4. Overpayments
  5. Government expenses for correcting defects in supplies furnished by the contractor

Call the number on the notice for the reason of the offset or you may call Treasury Offset Program Call Center at 1-800-304-3107.

Contract Termination

The government has the right to unilaterally terminate contracts, usually because they no longer have the need, or funding has been lost. Contractors have the right to be reimbursed for costs and reasonable profit. It is a blemish against the contractor if the contractor asks for unreasonable amounts. FAR Subpart 49.

National Association
of Credit Management

8840 Columbia 100 Pkwy.
Columbia, MD 21045
Phone: 410-740-5560
Fax: 410-740-5574

Let's Get Social!

NACM's Preferred
Software Providers

Discover More About NACM

Credit Congress
NACM's Annual Conference

Our History
Over 100 Years of History