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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1 of 172 terms matching "PPA"
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.
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.
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