In 1988, Congress passed the federal Prompt Pay Act Amendments, which required the government to pay its bills on time or incur interest penalties. Since the enactment of this law, many of the payment problems that government contractors previously experienced have been resolved with electronic invoicing. However, many subcontractors have reported shortcomings in the law since key provisions of the Act do not extend to them. NACM-Government Business Group has been working on the issue of outlining the oversights in the administration of the Act and taking the loopholes out of the governmentâ€™s payment practices.
All open grants offered by the 26 federal grant-making agencies can be found on www.grants.gov. This site allows the viewer to find and apply for federal grants online.
What is a TIN? And why is it important for government payments:
In 1997, the Department of Treasury required that all payment vouchers contain the company's tax identification number (TIN) before payment will be made. Most payments that are not paid through the Department of Defense are paid through the Department of Treasury. Even if the "Payment Will Be Made By" box on the purchase order shows another government agency, chances are the check is actually issued by the Department of Treasury. Invoices submitted for payments must indicate the TIN number or Treasury could reject the invoice. The TIN number should be clearly stated on your invoices. If not, you could experience additional delays in payments or a reason for rejections.
Help With Middle East Payments
PARC-Iraq Contact Information
- Mailing address: Office of the PARC-Iraq, GRD2/JCCI, APO AE 09348
- Email address: JCCI_PARC-I@pco-iraq.net
PARC-Afghanistan Contact Information
- Mailing address: JCC I/A Contracting, BLDG 90, APO AE 09354
- Email address: BGRMPARC-A@swa.army.mil
(Principal Assistant Responsible for Contracting or PARC)