Prompt Payment Act (PPA)

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Prompt Payment Act (PPA)

Definition

A federal statute that imposes interest penalties on the government if the government fails to promptly pay undisputed contractor invoices for goods and services that have already been delivered to, and accepted by, the government. The PPA does not apply to contract financing payments or to payments made before the delivery of goods or services.

Related rules

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— Northrop Worldwide Aircraft Services, Inc. v. Department of the Treasury

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