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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