FY83 Prompt Payment Act performance.
Freitas, Randall William
Liao, Shu S.
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This thesis studies the problems of Coast Guard payment offices in making timely commercial invoice payments, and the accuracy of reports of interest penalties and early payments, required by the Prompt Payment Act and OMB Circular No. A-125. The results of this study indicate errors in the collection of early payment and interest penalty data, and subjective interpretations as tot he causes for such payments and penalties. A review of these reasons and other problems leads to the development of several models to estimate the magnitude of such payments and to evaluate the relative performance of payment offices. This review also indicates the desirability of automation, administrative measures to reduce early payments and interest penalties, and improved reporting.
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