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B-204163 1 (1981-11-02)

handle is hein.gao/gaobabkga0001 and id is 1 raw text is: UNITED STATES GENERAL ACCOUNTING OFFICE WASHINGTON, D.C. 20548 OFFICE OF GENERAL COUNSEL November 2, 1981 B-204163 Mr. Philip G. Read Director Federal Procurement Regulations Directorate Office of Acquisition Policy General Services Administration Dear Mr. Read: By letter dated July 20, 1981, you requested our comments on a proposed amendment to Federal Procurement Regulations (FPR). The amendment adds subpart 1-1.14 regarding payment to contractors, including establishing target dates for payment to contractors. The amendment also revises section 1-2.407-3 so as to eliminate the evaluation of prompt payment discounts. PAYMENTS TO CONTRACTORS As recognized by the cover memorandum to the proposed amendment, we have previously recommended that agencies should be required, whenever practical, to include specific payment terms in each contract and purchase order (FGMSD-78- 16, February 24, 1978). On a subsequent follow-up survey we did earlier this year, we found that agencies generally still do not include specific payment due dates in purchase documents. This, in turn, is creating problems for agency financial managers responsible for paying bills and for contracts. Both recognize that not all payments can or should be made on the 30th day following the receipt of an invoice as specified in Federal fiscal regulations; however, they often cannot agree on when such payment should be made. Thus, we support your proposal to amend the FPR to require specifiedpayment dates. This should aid agency payment centers to schedule and pay bills when due.

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