B-201384: Dec 29, 1981

LATE PAYMENT CASES SHOULD BE TREATED THE SAME AS PROMPT PAYMENT DISCOUNT CASES SINCE THE FORMER IS ASSESSED AND THE LATTER OFFERED BECAUSE OF THE TIME VALUE OF THE MONEY TO VENDORS. IS EXTENDED. CONTRACTS - PAYMENTS - PAST DUE ACCOUNTS - LATE CHARGES - GOVERNMENT LIABILITY - CONTRACT PROVISIONS VETERANS ADMINISTRATION (VA) IS OBLIGED TO PAY THE GAS SERVICE COMPANY LATE PAYMENT CHARGES ON THE INVOI...

B-201384: Dec 29, 1981

GAO was asked whether a contractor was entitled to aggregate late payment charges on bills paid by Government checks which were issued and mailed before, but not received by the contractor until after, the delinquency date for payment. An agency had not paid these assessments on the theory that effective payment occurs when a Government check is issued rather than when it is received by the vendor...