OMB Extends Small Business Accelerated Payment Policy

Effective January 11, 2017 the Office of Management and Budget (OMB) has extended the policy to provide accelerated payment to Small Business and Small Business Subcontractors.  In a memorandum sent from Shaun Donovan the policy has been extended until December 31, 2017.

This policy was implemented in 2011 under Memorandum M-11-32 was issued instructing federal agencies to accelerate payments to small business prime contractors within a 15 day timeframe after receipt of proper invoicing.  For more information or to  view the memorandum click here .

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