GovCon Acronym Decoder
Government contracting runs on shorthand. Search any acronym and get a plain-English definition, when you will run into it, whether you need one, and where it comes from.
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4 of 172 terms matching "Invoice"
Proper Invoice
An invoice containing every element the contract requires. Anything missing means the clock on payment does not start.
When you see it
Monthly, on every active contract.
Do you need it
Check the contract's invoicing clause line by line the first time. Most payment delays are invoice defects.
Where it comes from
FAR 52.232-25 (Prompt Payment).
Proper Invoice
An invoice containing every element the contract requires. Anything missing means the clock on payment does not start.
When you see it
Monthly, on every active contract.
Do you need it
Check the contract's invoicing clause line by line the first time. Most payment delays are invoice defects.
Where it comes from
FAR 52.232-25 (Prompt Payment).
Invoice Processing Platform
The Treasury-run electronic invoicing system used by many civilian agencies.
When you see it
On civilian agency contracts that do not use WAWF.
Do you need it
Yes if your contract specifies it. Register early.
Where it comes from
U.S. Department of the Treasury.
Defense Finance and Accounting Service
The organization that pays most DoD invoices.
When you see it
As the payment office on DoD contracts.
Do you need it
Know your paying office and your entitlement contacts if payment stalls.
Where it comes from
Department of Defense.
Prompt Payment Act
The law requiring the government to pay a proper invoice within a set number of days (usually 30) or owe interest.
When you see it
In your contract's payment clause.
Do you need it
Know your clock and track it. Interest accrues automatically on late payments.
Where it comes from
31 U.S.C. Chapter 39, FAR Subpart 32.9.
Knowing the words is step one
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