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Prompt payment is a commercial discipline which requires businesses to: agree fair and reasonable payment terms with their suppliers; ensure suppliers' invoices are ...
Adjustment of claims is not confined to claims against insurance companies. An allowance made by a creditor, particularly a storekeeper, in response to a complaint by the debtor respecting the accuracy of the account or other claim, or a reduction in the claim or account made to induce a prompt payment, is in a proper sense an adjustment. [2]
Because they are financing terms between manufacturers and distributors, prompt pay discounts are not passed on to community cancer clinics. However, the Medicare Modernization Act of 2003 (MMA) required that prompt pay discounts be included in the calculation of ASP. Their inclusion artificially reduces Medicare reimbursement rates by ...
The Late Payment Directive, 2011/7/EU [1] is a Directive of the European Union concerning commercial late payments. It replaced the previous Late Payment Directive 2000/35/EC. [2] Like all European Union directives, this is an instrument which requires member states to enact its provisions in national legislation by 16 March 2013. [3]
Under this clause, the contractor could claim a profit allowance for work it already had performed, but not for anticipated profits. However, the company argued that because the Army had failed to include this termination for convenience clause in the contract, the Army's cancellation of the project constituted a breach of contract. The ...
The pandemic-era relief provided by the student loan payment moratorium ended in 2023, and by 2024, borrowers were back in the routine of paying their college debt — with interest. However, the ...
Meanwhile, in the department of cost cutting, the White House issued a memo yesterday "offering to pay federal workers who don't want to return to the office through Sept. 30, as long as they ...
payments (prompt payment essential) – frequently Wide Area Workflow (WAWF) is used. modifications and adjustments, typically done using a changes clause; requests for equitable adjustments, which can be processed under FAR 49.002(c)) (these are essentially modifications under the applicable contract changes clause e.g., FAR 52.212-4 clause)