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Article: Panel misses intent of prompt pay act. (Legislative Update)
- Article from:
- Business Credit
- Article date:
- September 1, 1993
- Author:
CopyrightCOPYRIGHT 1993 National Association of Credit Management. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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On behalf of the Coalition for Prompt Pay, of which NACM was one of the earliest members, I recently raised a number of points regarding panel recommendations concerning contract payment in testimony before the Subcommittee on Procurement, Taxation, and Tourism, Committee on Small Business, House of Representatives. The coalition wished to make the following points about the recommendations as well as bring a number of statutory requirements regarding contractor and subcontractor payment that have not been fully implemented into the Federal Acquisition Regulation (FAR) to the attention of the subcommittee:
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